China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (3100)	4/20/2004 6:07:26 PM
From: RealMuLan	Read Replies (1) of 6370

Start of Kazakhstan-China oil pipeline postponed until 2005 Astana. (Interfax) - The start of construction of the Atasu-Alashankou pipeline from Kazakhstan to China has been postponed from mid-2004 until 2005, the press service of Kazakh President Nursultan Nazarbayev said in a statement. According to the statement, this project was discussed during a government meeting chaired by Kazakh Prime Minister Danial Akhmetov in Astana on Tuesday. "Given the need to rapidly diversify exports of Kazakh oil and the possibility of integrating the Russian, Kazakh and Chinese pipeline systems, the prime minister set ministries and the national oil and gas company KazMunaiGaz the task of preparing documents and carrying out all the necessary procedures within 10 days so that it will be possible to start implementing the project next year," the statement said. The press service quoted Akhmetov as saying that "at the moment the task is to agree on measures to set up a joint venture with the Chinese side, and a basic model for the project." The statement said that there are currently several options for financing the pipeline. "Final talks" on this issue will be held with the Chinese side next week, the press release said. This section is the second stage in a project to build a pipeline from Kazakhstan to China. The pipeline should be built from the oil ramp at Atasu railway station in Karaganda region to the Kazakh-Chinese border near the Druzhba-Alashankou railway terminal. The first phase of the pipeline to China - the 448-km Atyrau- Kenkiyak pipeline, with a capacity of up to 12 million tonnes per annum - was built in spring 2003. The Kazakh side believes that the Atasau-Alashankou section may be completed in two years. The Kazakhstan-China pipeline, which will have a capacity of 20 million tonnes of oil per annum, will stretch about 3,000 km and will cost about $3 billion to build. interfax.com

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