Michael Lavon-Lotem
The Ambassador Michael Lavon-Lotem said: "Experts say the project is economically profitable as an alternative route of oil transportation to the Far East market. Now we should convince exporters about the convenience of the project. We're working on it ", mignews.com reports.
Azerbaijan's Azeri Light crude oil is supplied to the Mediterranean via the Baku-Tbilisi-Ceyhan pipeline. The pipeline capacity is 1.2 million barrels per day. The same pipeline pumps Kazakh oil from Tengiz.
A greater part of oil pumped via the pipeline belongs to the Azerbaijan State Oil Company (SOCAR), which is greatly interested in expansion to Asian markets.
Experts in oil business believe that the transportation of Azerbaijani oil from Ceyhan to Ashkelon and then through an existing pipeline to Eilat and the Red Sea would significantly increase the competitiveness of Azerbaijan's oil on Asian markets.
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