Word: novorossiysk
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...began paying Western-level gas prices. Belarus agreed. Infuriated that Azerbaijan's new BP-operated pipeline to the West bypasses Russia, Putin has said he intends to double gas prices for Azerbaijan, which in turn threatened to stop exporting its oil through the Russian-controlled section of the Baku-Novorossiysk pipeline to the Black Sea. "We want to put an end to this!" says Khosbakht Yusifzadeh, slamming his fist on his desk. He is the aging first vice president of the State Oil Co. of Azerbaijan and spent decades as a Soviet official. The country's best shot at breaking...
...report to Putin suggesting that Transneft acquire Russia's stake in the Caspian Pipeline Consortium (CPC), a company partly owned by the governments of Kazakhstan and Oman, which operates a 1,500-km oil pipeline from western Kazakhstan to a marine terminal in the Russian Black Sea port of Novorossiysk. Putin endorsed the idea. The transfer of ownership is likely to enrage the CPC's other owners, who view Transneft as a competitor. People familiar with the consortium's internal discussions say that the Russians have not yet officially proposed an ownership transfer. CPC executives couldn't be reached...
...most lethal of Europe's recent disasters, however, was unrelated to the storms that so devastated Central Europe. Tourist settlements near the Russian Black Sea port of Novorossiysk were hit Aug. 8 by tornados and flash floods that destroyed 424 houses and killed 59 people. The death toll there is expected to climb as rescuers get to cars washed away by the floods or crushed by falling trees and buildings. --Reported by Uwe Gunther, Charles P. Wallace and Regine Wosnitza/ Berlin, Jan Stojaspal/Prague and Paul Quinn-Judge/Moscow