Transneft will not shut the Baku-Novorossiysk Pipeline down due to renewal of negotiations with the State Oil Company of the Azerbaijan Republic to continue pumping oil, said spokesman of the Russian company Igor Demin, APA reports.
He clarified that Azerbaijan had requested extension of the contract for the pipeline at the end of last week. The contract expires on February 14, 2014.
The sides have not decided what volume of oil to pump through the pipeline.
The SOCAR was reported restarting negotiations on the Baku-Novorossiysk Pipeline on February 10.
