Turkey says Baku-Ceyhan transit tariffs have been set

Nov 29, 1999 01:00 AM

Turkey's Energy Minister Cumhur Ersumer has said that Ankara would charge an initial fee, including tax and commission, of $ 0.55 for every barrel of oil transported through the Baku-Ceyhan pipeline.
This rate will remain in place for the first 16 years of the pipeline's operation, and in the following 24 years a duty of $ 0.8 will be levied, Ersumer said.
He stated that the Turkish government expected to take in about $ 200 million a year in transit fees for oil passing through the pipeline to Ceyhan. The Turkish minister did not say whether revenues were expected to rise over the years along with the transit tariff.
Also last week, Natik Aliyev, president of the State Oil Company of Azerbaijan (SOCAR), said that the transit fee for the whole pipeline, which will be almost 2,000 km long, would be set at $ 2.58 per barrel. Aliyev did not say how that tariff would be split between the three transit countries (Azerbaijan, Georgia and Turkey).

Source: NewsBase
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