Azerbaijan, Russia negotiate to increase oil flow via Baku-Novorossiysk Pipeline

Azerbaijan, Russia negotiate to increase oil flow via Baku-Novorossiysk Pipeline
# 29 May 2009 16:50 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. Russia and Azerbaijan want to further deepen cooperation in the field of energy by launching new projects, said Russian Minister of Energy Sergei Shmatko.

According to him, the parties are now discussing the synchronization of Russia-Azerbaijan-Iran power grids, increase of oil flow via the Baku-Novorossiysk Pipeline, transit of Azeri gas and other issues.

He noted that 2.5 million tons of oil as transported via this route while the flow rate was envisiuoned 5 million tons per annum in the 2006 agreement.

“Azerbaijan didn’t fulfill this quota in these years. However, there were reasons for this. We hope the flow rate will reach the quota in next years,” he added.
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