Socar says will use BTC if no agreement with Transneft

Azerbaijan’s state oil company Socar has said it will use the BP-led Baku-Tbilisi-Ceyhan (BTC) pipeline to export its oil if talks with Transneft on a new agreement on the Baku-Novorossiysk link fail.

The Baku-based company denied reports that it appealed to Transneft to extend the existing contract that expires today.

“Talks with Transneft are still ongoing,” a Socar executive said. “If there is an agreement, Socar may resume exports through Baku-Novorossiysk.”

ANN.Az