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19.02.2016 17:44

Turkmen oil transit through Azerbaijan in 2016 to reach 3 million tons

The transit of Turkmen oil through Azerbaijan via oil pipeline Baku-Tbilisi-Ceyhan (BTC) in 2016 is expected to reach 3 million tons.

A source of the State Oil Company of Azerbaijan (SOCAR) says that the transit will be carried out on the basis of the extended contract between SOCAR Trading and Dragon Oil, which produces oil on Cheleken field block in the Turkmen sector of the Caspian Sea.

In accordance with the scheme of transit, SOCAR Trading buys crude oil from producers in Turkmenistan, delivers it across the Caspian Sea to Baku by tankers of Azerbaijani Shipping Company (AXDG) to terminal Azertrans, from which the BTC pipeline runs. BTC Co transports this oil via BTC pipeline and in Mediterranean port Ceyhan delivers it again to SOCAR Trading for sale on the world market.

The SOCAR source says that in accord with the agreement signed for 2016 by SOCAR Trading, AXDC will earn $36 million from the transit of Turkmen oil through Azerbaijan, Azertrans terminal $20 million, and BTC Co. $100 million.

Dragon Oil has been enjoying SOCAR Tradings services since 2010.

The peak of Turkmen oil transit via BTC was recorded in 2014 - 5.6 million tons.

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