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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (2721)3/4/2004 3:53:40 PM
From: RealMuLan  Read Replies (1) of 6370
 
China, Kazakhstan to intensify pipeline construction

Beijing. (Interfax-China) - China and Kazakhstan will step up construction of the Atasu-Alashankou-Dushanzi oil
pipeline, a Chinese source told Interfax on condition of anonymity.

"The construction of the 449-kilometer pipeline sector between Atyrau and Keniyak was mostly completed in
2002. The construction of the pipeline's second phase, about 1,300 kilometers between Atasu and Alashankou,
will start in June 2004. It is planned to reconstruct the 500-kilometer section between Kenkiyak and Atasu, which
has a low capacity," the source said.

China's CNPC Corporation and KazMunaiGaz of Kazakhstan are building the pipeline. They have not disclosed
how much has been invested in the project. It is only known that the pipeline's second phase will cost $850
million.

The source could not confirm if this sum includes the reconstruction of the Kenkiyak-Atasu pipe.

The pipeline is very important for China, which is need of crude oil. Up to 10 million tonnes of oil will be supplied
to China annually through the pipeline, and the pipeline capacity will double in the future, the source said.

"Blueprints of the pipeline's second phase will be added to the documents China and Kazakhstan are to sign
during a visit to Kazakh President Nursultan Nazarbayev to China in May 2004. This will give the project an
interstate status," the source said.

China expects the construction to proceed quickly. The reconstruction of an oil refinery in Dushanzi, the
pipeline's destination point, has already begun. interfax.com
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