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News // Oil and gas worldwide

Kazakstan Ready To Ship Oil

12 March 2001 , 07:07398
ALMATY, Kazakstan, March, 11
A U.S. envoy in the Caspian region said the government of Kazakstan had pledged to ship oil via a new pipeline between Azerbaijan and Turkey, which the United States considers strategically important.

U.S. State Department envoy Elizabeth Jones said Kazakstan President Nursultan Nazarbayev promised that the first oil produced in the Kashagan oil field would be shipped on the pipeline from Baku, in Azerbaijan on the Caspian Sea, to Ceyhan, a Turkish port on the Mediterranean.

The United States has pushed for construction of the pipeline between Azerbaijan and Turkey as an alternative to shipping oil from the Caspian Sea region via Russia or Iran. An agreement on the $2.7 billion project was signed last fall and preliminary engineering work is under way.

Kazakstan signed a memo Thursday indicating interest in shipping oil through the new pipeline, giving a boost to a project that some critics say will not be profitable.

biz.yahoo.com

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