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Kazakhstan and Azerbaijan conduct negotiations to found joint company for creating technical economic basis of Trans-Caspian route

09 October 2010 11:10 (UTC +04:00)

The minister spoke about the prospects of Kazakh oil export and said his country was interested in transportation of its oil via Baku-Tbilisi-Ceyhan pipeline in the second phase of Kashagan oil field exploitation.

The minister said Kazakhstan intended to export its oil via BTC in the second phase of Kashagan exploitation in 2018-2020, as well as to transport oil to the Black Sea terminals.

Kazakhstan, which exported its oil via BTC last year, refused to do it this and next years for certain reasons.

In its turn, Azerbaijan said it was ready to increase daily transportation capacity of the pipeline, which is 1.2 million barrel now. Recently Turkmen oil is also transported via BTC and if it needs to increase its capacity in the future it can be increased to 1,6 million barrel a day.

BP-Azerbaijan (30.1%), AzBTC (25%), Chevron (8.9%), Statoil (8.71%), TPAO (6.53%), ENI (5%), Total (5%), Itochu (3.4%), INPEX (2.5%), ConocoPhillips (2.5%) and Hess (2.36%) are among the BTC shareholders. The pipeline was put into operation in July, 2006.