Implementation of Transcaspian transportation system discussed in Baku

The meeting of the delegation of the national oil and gas company of Kazakhstan "Kazmunaygaz" and officials of the State Oil Company of Azerbaijan with representatives of foreign oil companies, participating in the development of the Tengiz, Kashagan and Karachaganak fields was held in Baku on December 12.

Day.Az reports with reference to the press service for SOCAR that during the meeting the sides discussed implementation of the project of the Transcaspian transportation system, volumes of transported oil by the said route, as well as the tasks for 20092-10.

The sides agreed to hold the next meeting in January of 2009.

It should be noted that on November 14 of 2008 SOCAR and KazMunayGaz signed an agreement on the main principles of the implementation of the project of the Transcaspian transportation system. The document defines main provisions and principles of the joint implementation of the project of the Transcaspian transportation system, envisions creation of a joint enterprises by SOCAR and KazMunayGaz, financing of works, setting tariffs and so on.

The first part of the Transcaspian transportation system is to be launched by 2012.

It should be reminded that the Transcaspian transportation system envisions transportation of Kazakh oil by the Baku-Tbilisi-Ceyhan pipeline.

/Day.Az/