Friday, November 23, 2007

Oil: Romania and Kazakhstan in Caspian oil deal

Romania and Kazakhstan are to cooperate in transporting Caspian oil to European consumer markets, the Romanian and Kazakh presidents stressed in a joint press statement on Thursday.

Kazakhstan is interested in the development of the Constanta-Trieste pipeline project, said Kazakh President Nursultan Nazarbaev, who arrived in Bucharest for a two-day state visit.

The Constanta-Trieste pipeline is a five-country project for transporting oil from Caspian region via the Black Sea to European markets. The project envisages construction of a pipeline from the Black Sea port of Constanta, passing through the territories of Romania, Serbia, Croatia, and Slovenia and terminating at Trieste in Italy.

Kazakhstan is keen to develop a pipeline linking the Caspian Sea and Black Sea ports, since "Kazakhstan can go out to Europe and to the world" via the Port of Constanta, Nazarbaev said.

Romanian President Traian Basescu said that the development of relations with Kazakhstan is a priority for Romania, saying his country also wants to increase relations with Azerbaijan and Turkmenistan.