Kazakhstan, Astana, 26 March / Trend corr K. Konirova/ On 26 March, Kazakhstan's Parliament approved of the bill on ratification of the agreement with Azerbaijan on support and assistance to transportation of oil from Kazakhstan via the Caspian Sea and Azerbaijan to the international markets through the Baku-Tbilisi-Ceyhan (BTC) system, Trend correspondent reported from Astana. The bill will be submitted to the Kazakhstan Parliament's Senate for consideration.
Kazakh Vice Minister Lazzat Kiinov said that the multi-direction hydrocarbon transportation policy envisages creation of new export directions.
"The plans on development of hydrocarbons in Kazakhstan profoundly impact on formation of the country's pipeline strategy. The foundation of new transport system was laid which will enable preservation of Kazakhstan's oil quality and linking the Caspian shore of Kazakhstan and Azerbaijan," Kiinov said.
The agreement was signed on 16 June 2006 by the Azerbaijani and Kazakh Presidents. Creation of the system will enable transportation of the Kashagan oil to the world markets. The Trans-Caspian transport system will enable transportation of 5mln tons of oil per year at the initial stage, and then 38mln tons of oil per year. Presently, the Kazakhstan Caspian Transportation System, which is intended for export of increasing volumes of Kazakhstan's oil from the Kashagan and Tangiz fields via the Caspian Sea to the international markets through the East-West corridor at the Aktau-Baku-Tbilisi-Ceyhan route, is being established.
Kazakhstan Caspian Transportation System is expected to provide transportation of 25mln tons of oil per year at the initial stage and later 38-60mln tons of oil per year.