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
On 22 of June this year, the board of the newly established company of AB Bank SNORAS - UAB “SNORO Media Investicijos” - made a decision to invest in the shares of UAB “Lietuvos rytas” and to acquire 34 per cent of the authorised capital of the company.
more »
The Banker's Exchange is joining forces with Chicago-based Intergam Logistics as part of a global expansion initiative into the ATM support market.
more »
Lisbon treaty and financial supervision dominate debate at EU summit.
more »
In the most sweeping financial reform proposal since the Great Depression, President Barack Obama unveiled plans to overhaul the U.S. financial regulatory system, saying the events that led to the U.S. financial crisis make the proposed changes necessary.
more »
Due to the rising concerns on a possible disruption of Russian gas supplies to Europe coming through Ukraine, the Commission has chaired a meeting of the Gas Coordination Group to assure a stronger EU coordination and to secure energy supplies to European citizens.
more »
Mexico signs an agreement with Google to help revive tourism at its historical sites, after the swine flu epidemic.
more »
The recession could hit working women harder than men, an EU study warns, underscoring persistent disparities between the sexes in the European labour market.
more »
The first 4 months of 2009 saw 25 percent more FBI background checks on prospective firearm buyers compared to the same period last year in US.
more »
AS “Latvijas Krājbanka”, managed by AB Bank SNORAS, was presented with the annual prize of Deutsche Bank AG, one of the largest European banks, for the excellent quality of the outgoing payments.
more »
Danske Bankas has made another increase in the interest rate for fixed-term deposits in litas for both private and corporate clients.
more »