Trans-Caspian agreements to be signed in 2009: ambassador

Oil&Gas Materials 4 February 2009 12:36 (UTC +04:00)

Azerbaijan, Baku, Feb. 4/ Trend , N. Abdullayeva/

KazMunayGaz (KMG) plans to sign all draft agreements on the Kazakh Caspian Transport System in 2009, Kazakh Ambassador to Azerbaijan Serik Primbetov said.

The system will deliver Kazakh oil supplies to global markets via Azerbaijan.

In mid-November, KazMunayGaz and the State Oil Company of the Azerbaijan Republic (SOCAR) signed an agreement outlining the basic principles of the Trans-Caspian project.

"The agreement identifies major conditions for the project's implementation, launching a joint company by SOCAR and KazMunayGaz, financing, tariffs and access to facilities," the ambassador said.

"I think the document meets Kazakh and Azerbaijani interests to diversify export routes," Primbetov said.

The Baku-Tbilisi-Ceyhan (BTC) pipeline will pump 25 million tons of oil from two Kazakh fields - Tengiz and Kashagan.

The Kurik Port should be expanded to transport Kazakh oil via BTC.

Kazakh oil from Kurik will be delivered to the BTC along the Caspian Sea.

In late October 2008, the first tankers loaded with Tengiz oil were transported via the Aktau Port to Baku.

First oil was pumped via the BTC to the Mediterranean Sea and global markets in early November 2008.

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