Kazakhstan President confirmed intention to sign BTC pipeline agreement

Almaty. June 8. Kazakhstan Today – President of Kazakhstan Nursultan Nazarbayev confirmed the intention to sign the agreement on joining Baku - Tbilisi – Ceyhan project in June. The Head of the State stated today during the 3rd investment summit in Almaty, the agency reports.

"We will sign with the agreement on joining oil pipeline Baku - Tbilisi – Ceyhan within the limits of Conference on Interaction and Confidence Building (CICA) in Almaty with the government of Azerbaijan," N. Nazarbayev said ".

As it was informed earlier, the agreement between Azerbaijan and Kazakhstan about transportation of Kazakhstan oil through Baku - Tbilisi – Ceyhan oil pipeline is intended for pumping of 25 million tons of Kazakhstan oil. The agreement provides creation of Aktau - Baku system for transportation of Kazakhstan oil for its further transportation through BTC oil pipeline. At the initial stage transportation of 7.5 million tons of Kazakhstan oil is intended through BTC pipeline.

BTC shareholders are the companies members of " BTC Co" (30,1 % of individual share), Unocal (8,9 %), Statoil (8,71 %), TPAO (6,53 %), Itochu (3,4 %), Amerada Hess (2,36 %), ENI (5 %), ConocoPhillips (2,5 %), Inpex (2,5 %), Total (5 %). Thus, ENI, ConocoPhillips, Inpex and Total participate in the tender of Kashagan deposit.