Middle East Economic Survey

VOL. XLIX

No 26

26-Jun-2006

CASPIAN

Kazakhstan And Azerbaijan Sign Intergovernmental Agreement On BTC

Following years of negotiations, Kazakhstan and Azerbaijan on 16 June signed an intergovernmental agreement covering Kazakh participation in the newly-opened Baku-Tbilisi-Ceyhan (BTC) crude oil pipeline (MEES, 12 and 5 June). The agreement provides for Kazakhstan to eventually ship 500,000 b/d through the 1,780km, 1mn b/d capacity BTC. It is unclear when shipments will...