‘Transportation of oil via the Baku-Novorossiysk pipeline is not profitable

‘Transportation of oil via the Baku-Novorossiysk pipeline is not profitable’

Deputy Head, Head of Foreign Relations Department of the Azerbaijani Presidential Administration Novruz Mammadov has given an interview to 1news.az.

In the interview, the official touched upon the termination of the agreement between Russia and Azerbaijan on the transit of Azerbaijani oil through Russia via the Baku-Novorossiysk pipeline.

“Much has been written in the press, and, in my opinion, there is a great need for the development of our media.

It will not hurt our journalists to learn how to analyze these processes and make objective judgments. Regarding the question itself, I want to say that there is no big problem. This does not affect our bilateral relations.

Apparently, the transportation of oil at the moment is simply not profitable to both parties in terms of the economic and commercial viability. Moreover, this issue was discussed in the course of negotiations. The decision has been taken after some time. As you know, the oil will be pumped through the pipeline by the end of this year.

And we accept the decision of the Russian side as perfectly normal.”

On 14 May, the Russian media reported that Prime Minister Dmitry Medvedev signed a decree on the termination of the agreement between Russia and Azerbaijan on the transit of Azerbaijani oil through Russia via the Baku-Novorossiysk pipeline.

News.Az

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