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Azerbaijan and Kazakhstan sign oil accord
RBC, 16.06.2006, Almaty 18:58:49.Azeri President Ilham Aliyev and his Kazakh counterpart Nursultan Nazarbayev signed an agreement on joint oil supply to global markets through the Baku-Tbilisi-Ceyhan pipeline, Azeri news agency Trend reported. The accord has become a testimony to a high level of cooperation between the countries, the Azeri leader pointed out, adding that the deal would predetermine the region's development for many years to come. The pipeline's significance, now that Kazakhstan has joined in the project, is difficult to exaggerate, as it will now become the largest oil-pumping artery in the region, Aliyev said. At the same time, Nazarbayev agreed with his Azeri counterpart, showing the same high regard for the importance of a cooperation agreement for transporting Kazakh oil to global markets via the Baku-Tbilisi-Ceyhan pipeline, as this would give Kazakhstan a third alternative supply route for its hydrocarbon exports. He averred that all the required terminals would be built and the pipeline's capacities would be boosted by 2030 in order to pump Kazakh oil. "This agreement will be an important milestone in the history of amicable relations between two countries whose people have a lot in common in their history, culture, and roots," the Kazakh leader stated.
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