TODAY.AZ / Business

Natig Aliyev: "Underwater oil pipeline from Kazakhstan to Azerbaijan requires $1bn"

21 July 2006 [17:30] - TODAY.AZ
It requires some $ 1bn to build an underwater oil pipeline from Kazakhstan to Azerbaijan in order to export Kazakh crude to the world market through Baku-Tbilisi-Ceyhan main export pipeline.

Azerbaijani industry and energy minister Natig Aliyev told to APA that building the submarine pipeline is economically efficient when annual export of Kazakh crude oil via Azerbaijan reaches 25 mn tons, but in the initial stage, the Caspian Sea Shipping Company's oil carriers can deliver Kazakh oil to Baku-Ceyhan pipeline.

Total Company calculates that creation of the Caspian Sea Transportation System requires $ 4bn. This money should be spent on construction of undersea pipeline and terminals in the both countries.


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