The State Oil Company of the Azerbaijan Republic (SOCAR) said that pumping oil through the Baku-Novorossiysk Pipeline will be beneficial for both Russia and Azerbaijan, Trend reports.
According to the company, Russia will be able to deliver oil to Ceyhan on the coast of the Mediterranean Sea via the Baku-Tbilisi-Ceyhan Pipeline or via SWAP operations.
SOCAR emphasized that it could increase exports of Azeri-Light-quality oil through the Baku-Novorossiysk Pipeline to 5 million tons a year. Azeri Light oil is dispatched from the Novorossiysk Port under the URALS brand.
The Baku-Novorossiysk Pipeline is not as profitable as the Baku-Supsa or the Baku-Tbilisi-Ceyhan Pipelines. Russia and Azerbaijan are still negotiating exports through the pipeline. Azerbaijan will quit exports in the north direction if it fails to find a solution with Russia.
