Azerbaijan is ready to build up oil supplies to Belarus, Industry and Energy Minister of Azerbaijan Natig Aliyev told reporters on 8 July, BelTA has learnt.

“We are willing to increase oil supplies to Belarus, personally I am optimistic about it,” the minister said. Natig Aliyev underlined that Azerbaijan can pump 3-5 million tonnes of oil per year to Belarus. In the future oil supplies can be increased even more.

The cooperation in the oil industry will depend on the outcome of negotiations. “This topic should be discussed by Belarusian oil refiners and Azerbaijani suppliers,” he said. Everything will hinge on economic interests of the two countries. The parties will analyze whether such operations make economic sense in the current conditions; everything should be based on solid economic foundation and mutual interests. “Today our interests coincide,” the minister added. In his words, the parties have already laid the foundation for expanding cooperation in the oil industry; in the future, this cooperation will depend on the efficiency of Azeri oil supplies to Belarus and the demand for it.

According to Natig Aliyev, Azerbaijan and Belarus should switch from oil supplies to joint ventures. “When parties unite and their revenues and profits are shared, they are interested in the efficiency of supplies and distribution,” he said.

Belarus received the first batch of crude from Azerbaijan. “This was a pilot project, our first contracts; we have tested complicated systems of transport infrastructure which connects Azerbaijan and Belarus,” the minister said. He added that Azerbaijan is primarily interested in the transport corridor of the Odessa-Brody pipeline. “The goal is to deliver, first of all, crude oil to the European market,” he emphasized.

Natig Aliyev noted that Azerbaijan now supplies oil to Ukraine where a network of Azerbaijani gas stations is created. “We pump oil to Ukraine, process it and sell it. I think Belarus and Azerbaijan should do the same. First of all, we should secure smooth oil transportation,” the minister concluded.