TODAY.AZ / Business

President Aliyev ratifies transportation of Kazakh oil via BTC

20 October 2006 [09:49] - TODAY.AZ
Ilham Aliyev, President of Azerbaijan, signed the law "On Ratification of the Agreement between Azerbaijan and the Republic of Kazakhstan on Co-operation and Creation of Conditions for the Oil Transportation from Kazakhstan through the Caspian Sea and the Territory of Azerbaijan to International Markets via the Baku-Tbilisi-Ceyhan (BTC) System.

The law has been published in official media and thereby is considered to have come into effect, Kazakhstan Today correspondent reports.

The Agreement was inked June 16 in Astana and provides transportation of 25 million tonnes of Kazakh oil per annum by means of creating a new Aktau-Baku system for the transportation of Kazakhstani oil by the BTC pipeline. The capacity of the transferring system will be 7.5 million tonnes during the first phase. Gazeta.Kz

URL: http://www.today.az/news/business/31649.html

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