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Transneft begins pumping of Turkmen oil via Baku-Makhachkala-Novorossiisk pipeline

According to Transneft’s spokesman, the first tanker with Turkmenian oil has arrived at the post of Makhachkala

MOSCOW, July 18 (Itar-Tass) - Russia’s oil major Transneft begins pumping of Turkmenian oil via the Baku-Makhachkala-Novorossiisk oil pipeline after the denunciation of the intergovernmental agreement on the transit of Azerbaijani oil, the Nefttrans.ru portal reported on Thursday, referring to Transneft’s spokesman Igor Demin.

According to Demin, the first tanker with Turkmenian oil has arrived at the post of Makhachkala.

Oil supplies from Turkmenistan followed a May resolution by Russian Prime Minister Dmitry Medvedev on the termination of the Russian-Azerbaijani intergovernmental agreement on oil transit via the Baku-Makhachkala-Novorossiisk oil pipeline. Starting from 2014, Transneft will pump Azerbaijani oil on a contract basis. Thus, the oil transport monopoly is now free from a liability to keep reserve space in the Makhachkala-Novorossiisk pipe for Azerbaijan’s oil and now it can contract more pipe users.

According to the web portal, Transneft has no plans to invest in the port’s development projects. Earlier, a source in the company said that the company could not expand the facilities of the Makhachkala port because of instability in Dagestan. Meanwhile, Summa Group, which along with Transneft controls the Novorossiisk Commercial Seaport, is interested in the port’s modernization.

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