Azerbaijan, Baku / Trend corr S. Aliyev / Azerbaijan is holding negotiations with the TangizShevroil consortium to sign a contract on oil transportation from Kazakhstan Tangiz field through the country to world markets.
According to the data provided by the head of the Azerbaijani State Railway, Arif Askarov, on 5 June, the consortium proposes to transport 20mln tons of oil within 5 years. "Gas supplies may commence in the beginning of 2008," he said.
At present, the oil from the Tangiz field is supplied to the Novorossiysk port ( Russia) through the Caspian Pipeline Consortium (CPC) pipeline. The operator of the development of the Tangiz field is the TangizShevroil headed by American Chevron company.
Oil pumping through the CPC in 2006 increased by 1.97% and comprised 31.1mln tons (30.5mln tons in 2005).
The shares of the founders of the CPC are as follows,
Russia - 24%, Kazakhstan -19%, Sultanate Oman - 7%.
Chevron Caspian Pipeline Consortium Company (15%), LUKARCO B.V. (12.5%), Rosneft-Shell Caspian Ventures Limited (7.5%), Mobil Caspian Pipeline Company (7.5%), Agip International (N.A.) N.V. (2%), BG Overseas Holding Limited (2%), Kazakhstan Pipeline Ventures LLC (1.75%) and Oryx Caspian Pipeline LLC (1.75%) are among the private oil companies that are the sides to the consortium.
On 28 April, the Russian President signed a decree to pass on its share in CPC to the management of the Transneft company.