Azernews.Az

Qabil Ashirov

Read more

The process of transferring the operation of the Baku–Tbilisi–Erzurum (BTE) gas pipeline to SOCAR is continuing according to schedule, AzerNEWS reports.

This was stated by bp’s Regional President for Azerbaijan, Georgia, and Türkiye, Gio Kristofoli, in remarks to journalists on the sidelines of the Baku Energy Forum.

According to him, short-term fluctuations in oil prices do not affect the company’s investment decisions.

“As part of a disciplined approach to capital allocation, we do not react to sudden changes in oil prices. Our investment decisions are made based on the price environment defined at the beginning of the year. Our goal is to maintain a stable capital framework throughout the year,” he said.

Kristofoli also noted that the transfer of the BTE gas pipeline’s operatorship to SOCAR is progressing in line with the agreed schedule.

“The contractual handover date for this process is July 1, and we are fully aligned with that timeline. I would like to emphasize that this is not bp’s exit from the asset, but the fulfillment of a contractual obligation. Extensive preparations have been made to ensure SOCAR’s role as operator. The company has the necessary experience and capacity to manage the pipeline successfully,” he stressed.

He added that the process related to the Baku–Tbilisi–Ceyhan (BTC) oil pipeline is still ongoing and work continues in this direction.