Kazahkstan shows interest in helping build Burgas-Alexandroupolis pipeline (30/10/2003)

Πεμ, 30 Οκτωβρίου 2003 - 11:54
According to press reports Kazakhstan it might join a plan to build a $700 million trans Balkan oil pipeline as it looks to diversify oil exports away from the crowded Black Sea Bosporus strait. Kazakh President Nursultan Nazarbayev told reporters earlier this month that Russia had invited Kazakh state oil firm Kazmunaigaz to join the project, which also involves Greece and Bulgaria. Kazakhstan plans to triple oil output to three million barrels per day by 2015 and is looking for new export routes. The trans-Blakan 256-km (159 mile) pipeline could help ease the Black Sea congestion as it would bypass the Bosporus and take up to 700,000 bpd of Russian oil from the west Black Sea Bulgarian port of Burgas to the northeastern Greek city of Alexandroupolis. The project has been on hold for more than eight years.