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Kazakhstan and China oil pipeline possibly to start operating by 2014
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Wednesday, 14 Nov 2012
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Kazakhstan Today cited Mr Mr Kairkeldy Kabyldin DG of KazTransOil as saying that the Kazakhstan and China oil pipeline will start working at its full capacity by 2014.

"Commercial talks are currently underway between Chinese and Kazakhstan representatives. We launched the oil pipeline with a capacity of 10 million tonne per year in 2005 and last year we increased it to 14 million tonne per year. The nominal capacity is 20 million tonne per year.

According to the agreement with China, we are planning to bring Atasu Alashankou section to 20 million tonne per year to ensure sufficient supplies to China.

Mr Mr Kabyldin said that at Atasu Alashankou section the construction of two pumping stations has already begun this year. We are in talks on the section from Atyrau to Alashankou to define the funding base and the commercial parameters and rates. We currently need around 100 billion tenge to bring Atyrau Alashankou section to 20 million tenge.

He said that the money from IPO will be first of all invested in reconstruction and modernization of our assets that are 100% controlled by KazTransOil to ensure their efficiency. If we decide that Chinese project also gives a certain guaranteed investment payback, of course, we will see into the possibility of using the IPO money.

Source - kt.kz

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