Expansion plan of China-Kazakhstan oil pipeline may suspend because of insufficient export

According to Ministry of Energy of the Republic of Kazakhstan, the oil transportation capacity of China-Kazakhstan oil pipeline was 11.8 million tons (including 7 million transferred tons of oil) in 2015, and original expansion plan of transporting 20 million tons every year was suspended. According to the “agreement on the development of China-Kazakhstan oil pipeline” signed by two governments, the pipeline should guarantee the supply of oil to China. Considering the oil export to China, there is no need to expand oil pipeline, while China has not made a final decision to invest in the pipeline project.

It is reported that Shkolnik Vladimir Sergeyevich, minister of Energy of the Republic of Kazakhstan, and Wang Dongjin, deputy general manager of CNPC agreed on setting up a working group to study the expansion of oil export to China, including the oil price formula agreement in Alashankou. At present, the working group is working on the expansion of pipeline, oil price formula in the border between China and Kazakhstan and decrease of oil freight price by adopting same net price.

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