By OGJ editors
HOUSTON, July 7 -- PetroKazakhstan Inc. has signed a memorandum of understanding with Russia's OAO Lukoil under which Lukoil will designate Turgai Petroleum (formerly CJSC Kumkol-Lukoil) as an affiliated shipper in the Caspian Pipeline Consortium (CPC). CPC will this year ship as much as 6 million tonnes of crude oil from the Caspian to Baltic and Black Sea export outlets with capacity gradually expected to increase to 12 million tonnes/year in 2006.
It is anticipated that Turgai Petroleum's shipments through CPC will begin by yearend and are expected to reach as high as 1.5 million tonnes/year, half of which PetroKazakhstan's will own.