Azerbaijan_s delegation to the latest round of talks in Turkey on the Baku Ceyhan oil pipeline project returned to Baku Wednesday evening.
Published:
3 March 2000 y., Friday
The expert working groups that took part in the talks, which began on February 26th, are carefully working out every point in the draft agreement between potential investors and Georgia accross whose territory the pipeline is due to pass, Natik Aliyev, president of Azerbaijani state oil company SOCAR, told reporters on Thursday. "All is being done to ensure the normal functioning of the pipeline over several decades," Aliyev said. Aliyev also said that the talks in Turkey had produced an agreement on one issue that had remained unresolved following talks in Georgia in mid-February.
As Interfax has learned from informed sources, until recently the main point of contention in the talks had been the issue of Georgia_s responsibility for pipeline security in force-majeur circumstances: natural disasters, terrorism or vandalism. The draft agreement contains a clause on "comprehensive damages" under which Georgia will be responsible for financing the costs of correcting damage to the pipeline within Georgia, as well as for paying compensation for damages to the consortium, including losses from lower oil production and idle tankers and refining capacity in Ceyhan. Georgia says it cannot afford to accept those liabilities. Officials in Tbilisi say the draft agreement is a threat to Georgia_s sovereignty and perhaps even its independence. If a terrorist attack were to take out one of three $55 million - $60 million substations in Georgia, the costs under the "comprehensive damages" clause would total at least $150 million.
Šaltinis:
Interfax
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission launched "The ocean of tomorrow " call for research proposals. Oceans cover about 70% of the Earth's surface, but human activity is increasing environmental pressure on them.
more »
The EBRD is stepping up its support to the real economy in Georgia with new funds for on-lending to local businesses.
more »
Lithuania’s Ambassador to Germany and Special Representative for EU External Relations in the German Foreign Office discussed the situation regarding the decision of private credit insurance company in Germany Euler Hermes to apply the rating of a maximum risk country for Lithuania.
more »
Peter Reiniger Business Group Director for Central Europe and the Western Balkans from the European Bank for Reconstruction and Development visited Latvia to sign subordinated loan agreement with Parex banka.
more »
The European Commission has approved 16 programmes in 12 Member States to provide information on and to promote agricultural products in the European Union.
more »
New measures to help farmers through recession as milk prices tumble.
more »
Federal Reserve Chairman Ben Bernanke said the outlook for the long-suffering U.S. economy appears to be improving.
more »
The Swiss Government and the EBRD are providing €11.8 million to improve the supply of water to some 1 million people living in Bishkek, the capital of the Kyrgyz Republic.
more »
The Neighbourhood Investment Facility (NIF), a key instrument of the intensified European Neighbourhood Policy (ENP), will benefit in 2009 from a €70 million contribution by the European Commission.
more »
In response to the impact of the global crisis on the Romanian construction sector, the EBRD is supporting Lafarge Ciment (Romania) S.A. with a €20 million loan in Romanian lei to finance the company’s operations and to support its working capital requirements.
more »