The State Oil Company of the Azerbaijan Republic has almost concluded negotiations to pump oil through the Baku-Tbilisi-Ceyhan Pipeline to compensate the Baku-Novorossiysk Pipeline, Trend reports.
Azerbaijan plans to pump about 2 million tons of oil a year and may increase the volume to 5 million tons.
Transneft spokesman Igor Demin said last week that Baku-Novorossiysk will be frozen on the Makhachkala-Baku section because the SOCAR had not started official negotiations to sign a deal for oil transit through Russia after cancelling the intergovernmental deal in May 2013. Transneft obligations listed in the contract still remain in force until early February.
