TODAY.AZ / Business

Azerbaijan and Kazakhstan want preparing text of intergovernmental agreement on pumping of oil by BTC, which is suitable for foreign companies

21 April 2005 [16:43] - TODAY.AZ
Azerbaijan and representatives of BTC Co. at today stage of negotiations with Kazakhstan party agree in the text of future intergovernmental agreement between two states about pumping of Kazakhstan oil by pipeline Baku-Tbilisi- Ceyhan (BTC).
The agency Trend reports, the executive director of BTC Co. Michael  Townshend stated, the text of intergovernmental agreement is to be suitable  for companies, which are to pump Kazakhstan oil by BTC, to such extent, that  it will enable them signing transit agreement

Azerbaijan and Kazakhstan parties run the next round of negotiations about joining of Kazakhstan to the project of BTC and preparation of text of intergovernmental agreement between two states. On the eve of visit of the President of Kazakhstan Nursultan Nazarbayev to the state, during meeting the parties discuss issues on project of transportation of Kazakhsatn oil via Azerbaijan by BTC and preparation of intergovernmental documents.

M.Townshend said, during document preparation parties may agree on juridical issues. "This is very complex process, but the progress is available. The parties want achieving result and sign agreement", he concluded.

Companies-shareholders of BTC Co. and participants of Kazakhstan project  of Kashagan are Eni (5% in BTC Co and 18,52% in development of "Kashagan"),  Total 5% and 18,52%), INPEX (2,5% and 8,33%), ConocoPhillips (2,5% and  9,26%).

URL: http://www.today.az/news/business/19093.html

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