Kazakh Oil Heading to the Mediterranean

Following a meeting Thursday between Kazakh President Nursultan Nazarbayev and Russian President Vladimir Putin in Astana, it was announced that Kazakhstan would participate in the construction of the Burgas-Alexandroupolis pipeline.

The Burgas-Alexandroupolis will enable crude to be transported from the Black Sea to the European and US markets via Bulgaria and Greece, avoiding the busy Bosporus Strait. The nearly EUR 800-million pipeline will have a total length of 280 km, with a flow of approximately 50 million tons per year.

"The construction of this new pipeline comes with the project of expanding the CPC capacity, which should increase from 23 million to 40 million," said Nazarbayev, during the finalization of the agreement. "This would mean that 17 million per year could be pumped into the Burgas-Alexandroupolis pipe."

The CPC (Caspian Pipeline Consortium) pipeline is 1,510 km long and links the Tengiz oil field in Kazakhstan to a terminal located on the Black Sea.

Nazarbayev confirmed that hydrocarbon transport across Russia is of major importance for Kazakhstan. Kazakhstan announced that, out of 52.3 million tons exported last year, 42 million tons were transported through Russia.