Kazakhstan not participating in financing the oil pipeline to China

Nov 12, 1999 01:00 AM

Kazakhstan wants to build an oil pipeline to China, but "wouldn't want to" participate in project financing, a Kazakh Foreign Ministry official said recently Vadim Zverkov, head of the ministry's department for economic co-operation, said that the project was "very expensive" and that the Kazakh budget couldn't afford it. "We don't want to burden the budget with this project," he said.
The pipeline construction project will be one of the key items on the agenda when President Nursultan Nazarbayev visits China in the second half of November. Kazakhstan and China signed a general agreement on the construction of an oil pipeline from Kazakhstan to western China in 1997.
The feasibility study for the project has not been completed. Kazakh pipeline operator Kaztransoil had said the study would be ready by October. The 2,900 km pipeline is expected to cost $ 3 bn-3.5 bn. The pipeline is to have the capacity to pump at least 20 mm tpy.

Source: BBC via Iinoil
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