New oil pipeline maybe launched between Azerbaijan and Black Sea

Though Azerbaijan pursues policy for balancing national economy, investment projects on oil-gas sector will be main priorities for a long time, Deputy Minister of Economic Development of Azerbaijan Gulmammad Javadov said at the 5th Caspian Oil & Gas Trading & Transportation Conference held  in Baku.

According to him, a new oil pipeline is considered to construct in the country in the near term in connection with increase of oil transit transportation from Azerbaijan:

"Oil production will make 100-115 mln tons in 2015 in the Caspian region, and it will cause deficiency in exporting routes of oil. That is why, new oil pipelines and routes are expected to launch until 2025 in the region. Volume of transit oil transportation will make 25-60 mln tons in Azerbaijan. Launching of new oil pipeline between Baku and the Black Sea is not excepted".


/APA/