Tengiz-Novorossisk pipeline no threat to Black Sea straits
MOSCOW, Oct 19, 2001 (Itar-Tass via COMTEX) -- The putting in service of the Tengiz-Novorossiisk oil pipeline will not cause an overburden of the Black-Sea straits, according to participants in the Caspian Pipeline Consortium. This is why they expect no sorties on the part of Turkey, Russian deputy energy minister Vladimir Stanev said in response to a question from Itar-Tass. According to Stanev, navigation in these straits is regulated by international law which does not impose any restrictions on the passage of tankers.
This confidence is shared by Vice-Chairman of the Chevron Texaco company Richard Matske. He said at a news conference earlier this week that the considerable amount of oil to be carried in tankers is intended for customers in the Black Sea region and he expected no problems with the throughput of the Black Sea straits. The news conference which he addressed was devoted to the loading of a tanker with the first lot of oil produced and pumped by the consortium.
According to expert estimates, the Tengiz-Novorossisk oil pipeline will allow Russia to increase its oil exports by 10 percent. The amount accounts for the share of the Russian oil- transport system throughput capacity which is now filled with Kazakh oil in transit via Russia. Once the Kazakhstan-Russian pipeline becomes fully operational, it will ease the load on Russia's own Transneft pipeline which is badly needed by the Russian oil-producing companies to increase their own exports.
Caspian concern sources said the pipeline in question will remain a stable source of income for the participants in the project. Over the next 40 years, Russia's federal and regional budgets will receive 20 billion dollars in revenues made up of tax deductions and profits.
At present oil arrives at the Consortium's Black Sea terminal from the Tengiz oil field in Western Kazakhstan. By the beginning of the year 2002, the terminal will be able to process 28 million tonnes of oil a year, enough to use up the throughput capacity of the first pipeline. Later, its throughput capacity can be increased to 67 million tonnes.
Concern Director General Sergei Gnatchenko thinks that one million tonnes of Kazakh oil will be pumped into tankers this year.
The concern;s major stockholders are Russia, Kazakhstan, Chevron Texaco and LUKarco. Eleven private companies from six countries make up the total number of participants in the project.
U.S. Secretary of Commerce Donald Evans said in Moscow last Monday that the Caspian Pipeline Consortium is the largest investment project of American companies in Russia and an important landmark in relations between the United States and Russia, as well as in her relations with Kazakhstan. He noted that the concern will help Russia and Central Asia to enter he world oil markets.
By Andrei Baturin |
