Kazakhstan to allot KPO 500,000 tons per year quota in CPC

ASTANA. December 14. KAZINFORM /Kanat Kulshmanov/ "Kazakhstan will allocate the Karachaganak project a quota of 500,00 tons per year in the Caspian Pipeline Consortium (CPC), which will later grow up to 2 million tons per year," Kazakh Oil and Gas Minister Sauat Mynbayev told after signing the Agreement on Kazakhstan's accession to the Karachaganak project.

As earlier reported, today athe Agreement on settlement of problematic issues between the Kazakh Government and Karachaganak Petroleum Operating (КРО) was signed in Astana with the participation of Kazakh PM Karim Massimov.

As a result of lengthy negotiations held during 2009-2011 the KPO agreed to transfer Kazakhstan 5% stake in the project to settle disputes for the period until December 31, 2009 and sell extra 5% stake to make Kazakhstan's participation in the project up to 10%.