Kazakhstan expects to start building oil pipeline to China soon

Apr 27, 2004 02:00 AM

Kazakhstan expects to start building an oil pipeline to China as soon as it has signed a formal agreement on the project in mid-May, the Kazakh government said. The oil-rich state has been in talks with China for years on extending a pipeline to reach its giant neighbour, and the deal comes after heavy investment by China's state oil firm in Kazakhstan.
"Although the documents all talk about 2005, the decision was taken to speed things up," government spokesman Sergei Tunik said. The pipeline project is part of a $ 9.5 bn package of Chinese-Kazakh oil deals signed in 1997, hailed by Kazakh President Nursultan Nazarbayev at the time as the "contract of the century."

Also, Russia and China may conclude as early as July talks on transporting natural gas from eastern Siberia to China and South Korea through a pipeline. The two sides are negotiating the price of the gas, and Russia will start pumping from the Kovykta field in Irkutsk by the end of 2008, the paper said, citing TNK-BP.
The pipeline will carry 20 bn cm of the gas from Russia to north-eastern Chinese provinces, and on to Beijing and the nearby Bohai Rim via domestic pipelines. An additional 10 bn cm of gas will go to South Korea via an undersea pipeline from Dalian, a port in China.

Source: The Moscow Times
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« August 2020 »
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Register to announce Your Event

View All Events