Russia backs long-term oil transportation project

/IRBIS, Feb 15, 01/ - According to the Reuters, Kazakhstan and Russia must elaborate long-term agreement on transportation of Kazakhstan oil though Russian pipeline system. Russian side agreed on access of Kazakhstan oil to the pipeline system without limitation according to existing agreements. At the same time, both parties remarked a presence of some "difficult moments" in the issue of export quoting. These difficulties relate to the substitution scheme of Kazakhstan oil. Most recent example is a case with Aktobemunaigas and Orsk refinery. Russian part did not announce transportation quota for 2001. The main export pipeline, Atyrau-Samara was reconstructed. Its current capacity is 15 mln tons of oil annually. The deputy prime-minister of Russian Federation noted that first stage of CPC project will be launched in June. The capacity of the project is 60 mln tons annually, of which first stage is 28 mln. Russia could be able transport Kazakh oil to seaports in Greece. He also added that Kazakhstan and Russia develop long-term program for 10-15 years. This would bring more confidence for investors in the issues of oil transportation.