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| Thursday, October 16, 2008 00:27:15 |
Kazakhstan-China oil pipeline opens to commercial operation
China’s first direct oil pipline started commercial operation Tuesday between Kazakhstan and China via Xinjiang Uygur Autonomous Region., reports People’s Daily.
China has set up an oil meterage station at the Alataw Pass, from where the crude oil from Kazakhstan enters China.
According to People's Daily, industry insiders said the construction of the oil pipeline is a win-win strategy for both countries as it will hopefully ease China's energy dearth and provide an ideal destination market for Kazakhstan's rich oil resources.
Last year, China's crude oil import totaled 127 million tons, about 40 percent of its total consumption. About a half of China's oil import came from the Middle East and only 1.3 million tons was imported from Kazakhstan, via Alataw Pass, in 2005. Insiders predict that the figure will climb to 4.75 million tons this year and to around 8 million tons in 2007.
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