Oil exports from Azerbaijan were drastically reduced last week after an explosion on the Turkish section of the Baku-Tbilisi-Ceyhan pipeline to the Turkish Mediterranean, the main artery for Azerbaijan’s oil exports. Kurdish separatists claimed responsibility for the accident on the pipeline which was carrying about 850,000 barrels a day of oil to western markets at the time.
Repair work on BTC is expected to take several weeks.
Russia invited Azerbaijan on Wednesday to increase its oil exports through a pipeline from Baku to Novorrosiysk on the Russian Black Sea. Exports of Azerbaijani oil through the pipeline to Russia have slowed to a trickle since the Baku-Tbilisi-Cehyan pipeline began working in 2005.
Russia is also pressing Azerbaijan to export gas through Russian pipelines, diverting supplies away from the route across the Caucasus.
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