BTC Will Continue To Be Used For Other Caspian Regional Thir...| MENAFN.COM

Thursday, 02 February 2023 06:33 GMT

BTC Will Continue To Be Used For Other Caspian Regional Third-Party Oil - Bp


(MENAFN- Trend News Agency)

BAKU, Azerbaijan, December 1. The Baku-Tbilisi-Ceyhan (BTC) pipeline will continue to be used for other Caspian regional third-party oil, bp Azerbaijan told trend Dec.1, commenting on the halt of LUKOIL transportation via the pipeline.

“BTC will continue to be used for ACG oil, SD condensate and agreed volumes of other Caspian regional third-party oil,” said the company.

LUKOIL will suspend its oil exports from its Caspian fields through the Baku-Tbilisi-Ceyhan (BTC) pipeline starting from December, due to Western sanctions imposed on Russia, and, thus, will redirect them to the Caspian Pipeline Consortium (CPC) pipeline system, Reuters reported citing sources.

The shareholders of BTC Co, which was established on August 1, 2002 to implement the project, are: bp (30.1 percent), AzBTC (25 percent), MOL (8.9 percent), Equinor (8.71 percent), TRAO (6.53 percent), Eni (5 percent), Total (5 percent), Itochu (3.4 percent), Inpex (2.5 percent), ExxonMobil (2.5 percent) and ONGC (2.36 percent).

According to the State Statistical Committee, the transportation of transit oil via the BTC from January through October 2022 amounted to 4,131 million tons, compared to 2,815 million tons over the same period of 2021 - an increase of 46.7 percent year-on-year.

During the reporting period, 24.428 million tons of oil were transported through the BTC, which is 78.8 percent of all oil (31.003 million tons) pumped through the main oil pipelines of Azerbaijan. At the same time, 21.777 million tons, or 74.9 percent of all oil transported (almost 29,090 million tons) were supplied through the BTC from January through October 2021.

---

Follow the author on Twitter: @lyaman_zeyn

MENAFN01122022000187011040ID1105254197


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.