Kazakh Oil Will Soon Reach the Mediterranean Sea via the CPC (Caspian Pipeline Consortium), Then Via the Burgas-Alexandroupolis Pipeline
Kazakhstan Will Participate in the Construction of the Burgas-Alexandroupolis Pipeline, the New Route via Which Crude Oil Will be Transported From the Black Sea to the European and US Markets, via Bulgaria and Greece, Therefore Avoiding the Busy Bosporus Strait.
Following a meeting between President of Kazakhstan, Nursultan Nazarbayev and President of Russia, Vladimir Putin in Astana, it was announced on May 10th that Kazakhstan would participate in the construction of the Burgas-Alexandroupolis pipeline.
The pipeline will have a total length of 280 km, with a flow of approximately 50 million tons per year. The cost of the project will be close to EUR 800 million.
"The construction of this new pipeline comes with the project of expanding the CPC capacity, which should increase from 23 million to 40 million", mentioned President Nazarbayev, during the finalization of this agreement. "This would mean that 17 million per year could be pumped into the Burgas-Alexandroupolis pipe."
The CPC (Caspian Pipeline Consortium) pipeline is 1,510 km long and links the Tengiz oil field in Kazakhstan to a terminal located on the Black Sea.
The Kazakh President confirmed that hydrocarbon transport across Russia is of major importance for Kazakhstan. Kazakhstan announced that, out of 52.3 million tons exported last year, 42 million tons were transported through Russia. -Government of Kazakhstan, prnewswire
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