Rosneft President Igor Sechin, Kazakh state company KazMunayGas board chairman Sauat Mynbayev and KazTransOil President Kairgeldy Kabyldin have signed a framework contract to pump oil through Kazakhstan and on relevant guarantees, RBK has reported.
As reported earlier, Rosneft and KazMunayGas are discussing the possibility of oil transportation to China via Kazakhstan.
According to Itar-Tass, up to 7mn tons of oil may be pumped through the pipeline from Atasu linking Kazakhstan to China.
China is also interested in the Kazakh route because the Chinese CNPC owns 50% of the pipeline which does not work to its full capacity.
We recall that Rosneft until 2013 supplied 15mn tons of Russian oil per annum to China via the pipeline Skovorodino-Mohe. In June, Rosneft signed a new supply contract with CNPC, which provides for delivering 365mn tons of oil to China over 25 years. The contract is worth USD 270bn. Rosneft started additional deliveries under an agreement with CNPC at the end of July 2013. This year, 800,000 tons of oil should be delivered.
Copyright: OilNews.kz, 2013