Azerbaijan significantly increased export potential: SOCAR

Kazakh oil is transported via Azerbaijan by the BTC and to Georgian port of Batumi via railway. The transport of the Kazakh oil via Azerbaijan began in October 2008.

He said Azerbaijan increased export potential significantly in 2008. "The potential is expected to be further increased in 2009," Guliyev said.

The BTC pumps 750,000-800,000 barrels of oil from Azeri-Chiraq-Gunashli fields, 40,000-50,000 barrels of condensate from Shah Deniz and 40,000 barrels from Tengiz per day. The Baku-Supsa pipeline transports 80,000-100,000 barrels of oil form ACG per day.

The North-Eastern, Central and Eastern Europe's are promising markets for Azerbaijani oil, he said.

"The decline in crude output by European countries, rise in import, change of balance between low-sulfur and sulfur types and use of diesel in the European market are factors increasing export of Azerbaijani oil to Europe," Guliyev said.

Europe consumes 14-14.5 million barrels of oil per day. About 70 percent of the consumed oil is imported.

The British Confidence Energy and the Azerbaijan State Oil Academy are organizers of the conference. Trend Capital Agency renders media support.

/Trend Capital/