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US $2.4 billion oil pipeline project underway

The first phase of the 18 month feasibility study of the
Aktau-Baku-Ceyhan oil pipeline project has started, a US special adviser said, according to the Interfax-Kazakhstan news agency. Following a meeting on Wednesday with Kazakh President Nursultan Nazarbayev, Elisabeth Jones, US presidential adviser on Caspian oil issues, told journalists that the construction of the oil pipeline - which would transport Kazakh oil via Azerbaijan to the Turkish Mediterranean port of Ceyhan - was planned for 2004-2005 and would cost US $2.4 billion.

Jones said that Nzarbayev had confirmed Kazakhstan’s desire to “work jointly” on the project, following Kazakhstan’s signing of the Istanbul declaration in support of the oil project last year. Kazakhstan’s role and the amount of oil to be trans-shipped had not yet been decided by the eight oil companies involved in the project, the report said.

This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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