energy
Russia clears plan to boost Kazakh oil transit
Russia said on Wednesday it had lifted its opposition to a plan to double the capacity of a Kazakh transit oil pipeline in a move to allow Chevron and other energy majors to boost exports via its territory.
The Russian energy ministry said in a statement its minister Viktor Khristenko and his Kazakh counterpart Sauat Mynbayev had reached an agreement at a meeting in Astana.
“A joint position has been agreed on the issue of the CPC (Caspian Pipeline Consortuim) expansion, which should take place before 2012 in two stages,” the statement said.
The link’s capacity, which runs from Kazakhstan’s biggest fields to Russia’s Black Sea coast, would double to 67 million tonnes from the current 32 million a year.
By Dmitry Zhdannikov - Reuters
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