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Cost of Azerbaijani oil transit via Russia dropped as twice as USD rate changed

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The rate of oil pumping via the Baku-Novorossiysk pipeline could increase by 149.95 rubles (31%) up to 634.54 rubles per 1 tons (without VAT). The draft of decree was posted on the portal www.regulation.gov.ru.

            The rate is calculated in rubles for the route from the Azerbaijani border to the transshipment point Sheskharis (Novorossiysk). From January 1, 2015 it totals 484.59 rubles.

            With the current rate pumping of 1 ton of Azerbaijani oil via Russia costs now $8.40. After rise in prices it could be about $11 per 1 ton. Since February 1997 till February 2014 the rate of Azerbaijani oil transportation via Russia remained unchanged at $15.67. After that Russia has fixed almost the same rate but in ruble. As the USD rate has changed, actual price of Azerbaijani oil transit via Russia has dropped, reported Caspian Barrel.

            Azerbaijan transports its oil via the Baku-Novorossiysk pipeline since 1997. In 2014 SOCAR shipped 932,155 tons of oil from the Novorossiysk port. The volume of shipment decreased by 46.8%. In January and February 2015 SOCAR’s shipment from Novorossiysk totaled about 170,000 tons, which is equal to the index of the same period last year.

            In early January SOCAR and Transneft extended the contract for oil transportation via the Baku-Novorossiysk pipeline till the end of 2015.