Maximum level of oil transportation via BTC will continue till 2013

He says that they intend to increase the throughput capacity of the Baku-Tbilisi-Ceyhan pipeline in line with the realization of oil volumes to be transported across the Caspian Sea. Depending on the productivity of Azeri-Chirag-Guneshli it is planned to transport 1 million barrel of oil per day starting from the years 2008-2009 and it is expected that the maximum level of transportation will continue up to 2012-2013.

As concerns transportation of Tengiz oil via the Baku-Tbilisi-Ceyhan oil pipeline Mr. Javanshir stated that the final agreement on the transportation of Tengiz oil via the Baku-Tbilisi-Ceyhan oil pipeline was not obtained and the volumes of oil to be transported depended on the progress of the ongoing negotiations.

On behalf of all its stockholders including AzBTC, the Baku-Tbilisi-Ceyhan Pipeline Company shall repay the credits to the international financial institutions during the coming decade. The issue of using other alternative exportation options, apart from the Baku-Tbilisi-Ceyhan pipeline, is under consideration.

Israel has not made any appeal directly to the BTC pipeline company.

The Baku-Tbilisi-Ceyhan pipeline company is not a direct participant of the transit agreement on the transportation of Kazakhstan oil. The mentioned issue is directly related to Azerbaijan, Kazakhstan and the oil producers operating in Kazakhstan.

/ANS/