Monday, January 25, 2021
Sign-In
|
Sign-Up
|
Contact Us
|
Bookmark
Home
News
Articles
Forum
Search
Directory
Blog
Accounts
Business
|
Politics
|
Technology
|
Entertainment
|
Sport
|
Other
|
All Published News
|
Kazakhstan intends to join the widely advertised "oil pipeline of the century" project - Baku-Tbilisi-Ceyhan
The relevant agreement was discussed during the third meeting of the Azeri-Kazakh intergovernmental commission on economic cooperation in Baku on Sunday. The draft of the agreement is among the series of documents planned to be signed during the upcoming visit of Kazakh President Nursultan Nazarbayev to Azerbaijan on May 24. "We have been working on the draft of the agreement for several days. It is basically ready and initialed. I believe its signing will be an event of historic importance," First Vice-Premier of the Azeri Cabinet Abbas Abbasov, who serves as co-chairman of the committee on the Azeri side, told the journalists. He said, more than 3 million tons of Kazakh oil was exported through the Azeri territory in 2004. The expanding transport potential of the two countries will ensure the future increase in the volume of transported goods, including the transportation of Kazakh oil along the Aktau (an oil terminal on the east coast of the Caspian Sea) - Baku route. In his turn, the co-chairman of the committee on the Kazakh side, Minister of Energy and Mineral Resources of Kazakhstan Vladimir Shkolnik announced "all technical issues of coordination regarding the joining of the above-mentioned transport corridor and the Kazakh sub-system Aktau-Baku had been almost solved." During the meeting, the participants also discussed the issues of the development of bilateral economic ties. In particular, Vladimir Shkolnik suggested that the Azeri side should participate in the joint monitoring of ecological and seismic situation in the Caspian Sea region, currently conducted by the Kazakh side. During the upcoming visit of Nazarbayev to Azerbaijan, the sides are expected to sign a series of documents on cooperation in the economic sphere and a political declaration of both presidents. The major problem facing the major opponent of the new oil pipeline project - the Oil Pipeline Consortium (OPC) where Russia plays the leading role - is the insufficient capacity of the existing pipeline. At present, the OPC transports about 28 million tons of oil to the Russian town of Novorossiisk on the Black Sea annually. However, the profitability of its pipeline under current tariffs ($27 per ton) is very low. While waiting for the expansion of the OPC pipeline capacity, the major OPC client, the American Tengizchevroil whose production volume is expected to increase drastically by 2006 (by 10-15 million tons annually) has practically re-oriented its future supplies on the Baku-Tbilisi-Ceyhan oil pipeline, which is almost ready to become operational (all works are completed by 95%).
Related News
Greece intends to expand information cooperation with Russia
Oil prices could grow to $80-100 per barrel by late August
Gazprom and U.S. company Dow Chemicals may set up a joint venture to complete the Novy Urengoi gas-chemical factory
The first plane of a new airliner series that meets international noise and emission standards was delivered to a Russian airline on Friday
Ukraine is in the grips of a gas crisis caused by Yulia Timoshenko's cabinet
The Standard & Poor's transnational rating agency has confirmed long-term Gazprom rating at BB- with a stability forecast
Russian-Czech trade and economic relations have seen positive dynamics
The following rates of exchange of foreign currencies to the ruble of the Russian Federation
The federal government does not intend for now to prohibit the use of right-hand steering wheel cars in Russia
The OAO Russian Railways hopes very soon to increase oil shipments to China up to 70 million tonnes
To acquire Gazprom shares, Rosneftegaz Co. intends to make an overseas loan
On Tuesday Venezuela and Russia signed an agreement on supplies of 100,000 Kalashnikov submachine-guns to that South-American country
Russia's Omsk region is displaying its achievements at EXPO-2005 in Japan's Aichi prefecture
Russia produced slightly more than 375 million liters of vodka
Russia's Tu-204-300 passenger jet has been granted a certificate
The international conference UNESCO is opening in St. Petersburg on Tuesday
The US dollar has reached the highest point of its growth during the recent three months
Russia will strangle its banks if it opens doors wide to overseas capital with no limits at all as it joins the WTO
Russia may run out of its profitable resources of hydrocarbon raw materials by 2015
19 years have already passed since the day of the terrible disaster that claimed so many lives
Apr
May 2005
Jun
Mo
Tu
We
Th
Fr
Sa
Su
25
26
27
28
29
30
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
1
2
3
4
5