Kazakh President Nursultan Nazarbaev has signed a law ratifying an agreement with China on the development and operation of a joint oil pipeline.
The presidential press service said that, according to the law signed by Nazarbaev on October 17, the 2,228-kilometer pipeline -- running from Kazakhstan's Caspian Sea shore to the Xinjiang-Uyghur Autonomous Region in western China -- will be controlled by Kazakhstan's KazMunaiGas state company and the Chinese National Petroleum Corporation.
Currently, the pipeline is controlled by a number of Kazakh-Chinese joint ventures.
The agreement establishes a unified tariff for the transportation of Kazakhstan's oil along the pipeline, regardless of the distance from an entry point.
The Kazakh-Chinese agreement was originally signed in December 2012 and ratified by Kazakhstan's parliament last month.
Based on reporting by inform.kz, kaztag.kz, and RIA Novosti