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Azerbaijan may resume oil exports via Russia

10 January 2007 [13:42] - TODAY.AZ
Azerbaijan may resume oil exports to Europe via a Russian-controlled pipeline-Baku-Novorossiysk route.

SOCAR official told APA the crude would be used to fuel power stations which used to run on Russian natural gas supplies, Azerbaijan refused to pay $235 per cubic meters for, compared to $110 it was charged before 2007.

"We have reoriented the power plants to fuel oil. We have to process more crude oil to obtain fuel oil for electricity," the Company said.

The SOCAR stated the negotiations on potential gas imports are ongoing.

"If we are offered natural gas imports cheaper than the domestically produced fuel oil, we will restart exporting the crude through Baku-Novorossiysk pipeline," the Company told APA.

The Company plans to export a total of 225,000 tons of oil during the first quarter of 2007.

The SOCAR stopped exporting oil through Russia in early January, however, Azerbaijan International Operating Company is still pumping oil via this pipeline.

A total of 315,000 tons of Azeri-Chirag-Guneshli oil are planned to be exported through this route.


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