EXPLAINED | Why Armenia and Azerbaijan are at loggerheads over Nagorno-Karabakh againThe conflict centers on the Nagorno-Karabakh region claimed by both countries. Azerbaijan exports the vast majority of its crude oil through the Baku-Tbilisi-Ceyhan pipeline to an export terminal on Turkey’s Mediterranean coast. Natural gas exports flow through the South Caucasus pipeline to Georgia and Turkey, and are due to reach EU markets later this year. Azerbaijan also pumps gas through an export pipeline that runs alongside its oil conduits. Oil demand will be 7.1% lower this quarter than it was a year earlier, according to the International Energy Agency.

Source: Indian Express September 28, 2020 13:18 UTC