Royal Dutch Shell Plc  .com Rotating Header Image

MosNews: Azerbaijan Halts Oil Transit Trough Russia to Europe

Created: 09.01.2007 11:19 MSK (GMT +3), Updated: 13:18 MSK,

Azerbaijani oil supplies via Russia to Europe have been halted for more than a week in an energy price row with Russia, the Xinhua news agency reports quoting a statement by the Azerbaijan’s state-owned oil company SOCAR.

The dispute flared up after Russian state gas firm Gazprom increased the cost of its gas exports to Azerbaijan to 235 U.S. dollars per 1,000 cubic meters from last year’s price of 110 dollars.

The price hike prompted the oil-rich Caspian sea nation to stop importing Russian gas, and close down the oil supply to Europe via Russia on Jan. 1.

In 2006, SOCAR exported 1.172 million tons of oil via the Russian-controlled pipeline running from Bake to the Russia Black Sea port of Novorossiisk.

Azerbaijan’s state-owned oil company said its country had refused to meet Russia’s price demand, and the crude would be used domestically instead as fuel for power stations.

Azerbaijan imported around 4.5 billion cubic meters of natural gas from Russia in 2006 to cover domestic consumption.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

0 Comments on “MosNews: Azerbaijan Halts Oil Transit Trough Russia to Europe”

Leave a Comment

%d bloggers like this: