Kazakh Parliament Preparing to Adopt Agreement with Azerbaijan on Oil Transportation via BTC
Kazakhstan, Astana /corr. Trend K.Konirova / On 26 December the plenary session of Kazakhstan's Parliament will consider the issue of preparing the agreement on the project of Kazakhstan's Law on Ratification of the Contract between Kazakhstan and Azerbaijan on support and assistance to oil transportation from Kazakhstan to the world markets via Baku-Tbilisi-Ceyhan pipeline through the Caspian Sea and territory of Azerbaijan.
The agreement was signed on 16 June 2006 by the Presidents of Azerbaijan and Kazakhstan. Establishing the transport system will ensure transportation from Kazakhstan's field of Kashagan to the world markets. The Trans-Caspian transportation system will ensure transportation of 5mln tons of oil at the beginning stage with further increase up to 38mln tons of oil per year. Currently talks are being held to establish Kazakhstan Caspian Transportation System to export growing volumes of oil being produced on the fields of Kashagan and Tengiz to the world market via East-West corridor and Aktau-Baku-Tbilisi-Ceyhan route.
Kazakhstan Caspian Transportation System is expected to transport 25mln tons of oil per year at the beginning stage with further increase up to 38-60mln tons per year.