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BTC pipeline agreement preparation completed

14.06.2006, 11:41 2650

Baku. June 14. Kazakhstan Today – Preparation of the contract draft between the governments of Azerbaijan and Kazakhstan on transportation of Azerbaijan oil through Baku-Tbilisi-Ceyhan pipeline has been completed. The Minister of Industry and Energy of Azerbaijan Natik Aliyev informed on Tuesday, the agency reports.

The parties came to the agreement about all items of the agreement. The visit of the President of Azerbaijan to Kazakhstan is scheduled for June 17 for participation in CICA Summit of the Heads of the States.

Negotiations between Azerbaijan party and KazMunaiGas about Kazakhstan joining BTC project have been conducted since November, 2002. The intergovernmental agreement between Kazakhstan and Azerbaijan about transportation of Kazakhstan oil through BTC pipeline provides creation of Aktau - Baku transportation system of Kazakhstan oil to its further transportation through BTC oil pipeline.

At the initial stage transportation through BTC of 7, 5 million tons of Kazakhstan oil with the subsequent increase in this volume up to 25 million tons has been planned.

BTC oil pipeline extent makes 1767 km, in Azerbaijan - 443 km, in Georgia - 248 km, and in Turkey - 1076 km. Oil pipeline capacity- 50 million tons of oil a year.

BTC shareholders are the companies members of " BTC Co" (30,1 % of individual share), Unocal (8,9 %), Statoil (8,71 %), TPAO (6,53 %), Itochu (3,4 %), Amerada Hess (2,36 %), ENI (5 %), ConocoPhillips (2,5 %), Inpex (2,5 %), Total (5 %). Thus, ENI, ConocoPhillips, Inpex and Total participate in the tender of Kashagan deposit.

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