Terms of Kazakh oil exports via the Baku-Tbilisi-Ceyhan pipeline under discussion

Terms of Kazakh oil exports via the Baku-Tbilisi-Ceyhan pipeline under discussion
# 12 December 2008 16:16 (UTC +04:00)
Baku-APA-Economics. Kazakhstan’s KazMunayGaz has sent a delegation of experts to Azerbaijan to discuss conditions for transporting Kazakh oil through the pipeline Baku-Tbilisi-Ceyhan pipeline to the world markets, said Rovnag Abdullayev, President of the State Oil Company of Azerbaijan (SOCAR).
On November 14, State Oil Company of Azerbaijan (SOCAR) and Kazakhstan’s KazMunayGaz signed an agreement on the core principles of establishing Trans-Caspian Oil Transport System.
The document was hailed by officials as a step forward following previous agreements and documents, including “An Agreement on Assistance and Support to the Transportation of Kazakh oil via the Caspian Sea and Azerbaijan, onto World Markets through Baku-Tbilisi-Ceyhan Pipeline” signed in 2006, “An Agreement on Strategic Cooperation in Oil-Gas Sectors” and “A Memorandum on the Joint Implementation of the Trans-Caspian Project” signed in 2007.
that Kazakh oil will be delivered to Baku by tankers so far.
The $3 billion project will be financed through loans to be borrowed by Azerbaijan and Kazakhstan.
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THE OPERATION IS BEING PERFORMED