Kazakhstan Ratifies Agreement On Russian Oil Transit To China

June 26, 2014

The Kazakh Senate has ratified the nation's intergovernmental agreement with Russia on Russian oil transit to China, Novosti-Kazakhstan reported on June 26.

The agreement envisages transit through Kazakhstan's territory of 7 million tonnes per year with possible increase to 10 million tonnes per year for a long-term period. Russia will have access to the system of main pipelines for oil transporting by Omsk (Russia) - Priirtyshsk (Kazakhstan) - Atasu (Kazakhstan) - Alashankou (China) route.

The cost of transportation of 7 million tonnes of oil per year will be approved for the entire term of the agreement by Kazakhstan's authorized state body in USD dollar per tonne on the basis of the bilateral agreements.

Copyright, Trend, 2014.