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Parliament ratifies agreement on exploitation of Kazakhstan-China pipeline

26 september 2013, 18:25
Photo courtesy of kz.china-embassy.org
Photo courtesy of kz.china-embassy.org
Kazakhstan Parliament has ratified the agreement between Kazakhstan and Chinese governments on cooperation during development and exploitation of Kazakhstan-China oil pipeline, Tengrinews reports from the Senate’s plenary meeting.

“The Agreement describes mechanisms and terms of implementation of the project of development and exploitation of the Kazakhstan-China oil pipeline aimed at increasing its capacity.

"The investments and capital expenditures will make around 126 billion tenge ($840 million).

"The agreement is mainly aimed at setting a uniform network rate independent of the point of oil's entry into the Kazakhstan-China pipeline system. The oil supply rate will be approved by the competent state authorities of Kazakhstan and should not exceed the set oil export rate,” Kazakhstan Oil and Gas Minister Uzakbai Karabalin said.

According to the Minister, the prices in the oil sales contracts will be set based on the international oil prices in oil/barrel and will be the same at the Kazakhstan-Chinese border.

“The Chinese partners will be making sure that these prices are attractive for Kazakhstan dispatchers for the whole period of this agreement,” the Minister said.

The plan is to increase the pipeline’s capacity in Atassu-Alashankow section to 20 million tons per year in 2013, he said.

According to Karabalin, the general plan is to create 400 permanent jobs and up to 2 thousand jobs for the first two years of construction. “Exploitation and maintenance of all the parts of the Kazakhstan-China pipeline are currently being performed and will be performed by KazTransOil,” the Minister stated.

Earlier Director General of KazTransOil Kairgeldy Kabyldin assured that there would be as few foreign workers at the Kazakhstan-China oil pipeline as possible.

By Altynau Zhumzhumina

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