China National Petroleum Corp (CNPC) and Kazakhstan state-owned KazMunaiGaz signed an agreement to jointly invest in an oil pipeline. The 1,240 km pipeline will run from Atasu in Kazakhstan into northwest China's Xinjiang Uighur Autonomous Region. The pipeline is the second section of a 3,000 km trunkline connecting China to the Caspian Sea. Construction on the pipeline is scheduled to begin in August 2004, according to CNPC. The pipeline, which is projected to be completed in 2005, is expected to have an annual capacity of 10 million tons of crude oil. If completed, the three-section trunkline will have the capacity to deliver 20 million tons of Caspian Sea crude to China annually.
You must log in to post a comment.