The project plans to include oil terminals on Kazakhstan's Caspian shore, tankers, oil-loading terminals in Azerbaijan, and facilities linking these terminals to the Baku-Tbilisi-Ceyhan pipeline.
KazMunaiGaz and SOCAR say they have also signed an agreement on cooperation in oil and gas, which involves the joint use of SOCAR's oil and gas infrastructure.
The two documents were signed in Astana during a visit by Azerbaijani President Ilham Aliyev.
(with material from agency reports)
A tanker carries liquified natural gas to markets in Asia (AFP)
COMING TOGETHER? PFC energy analyst Nikos Tsafos and RFE/RL energy analyst Roman Kupchinsky discussed with an RFE/RL briefing what the likelihood is of a natural-gas-producers consortium being formed and what such an organization might look like.
LISTENListen to the entire briefing (about 70 minutes):
Real Audio Windows Media