Agreement on oil transportation to be adjusted before year's end

Azerbaijan, Baku, June 28 / Trend E.Ismayilov / By late 2012, a decision will be made to amend the text of an intergovernmental agreement on oil transportation via the Baku-Novorossiysk pipeline, Russian Energy Ministry official Mikhail Leshkin said on Thursday during a roundtable. The roundtable is held in Baku in the third Azerbaijani-Russian inter-regional forum "Russian Azerbaijani dialogue 2012." "In particular, it requires consideration of the cost of transporting oil by the pipeline," Leshkin said. The negotiations on the harmonization of the changes in the agreement are currently ongoing between the State Oil Company of Azerbaijan (SOCAR) and Transneft, Azerbaijani Industry and Energy Minister Natig Abbasov noted at the roundtable. Abbasov expressed confidence that after the parties harmonized all relevant issues, this issue will find its positive solution. "With the commissioning of Baku-Tbilisi-Ceyhan and Baku-Supsa oil pipelines, along with the Baku-Novorossiysk pipeline, Azerbaijan was able to provide an extensive system of its own oil supplies to world markets, as well as energy independence and security," the deputy minister said. Do you have any feedback? Contact our journalist at agency@trend.az