The memorandum between the Republic of Kazakhstan and Georgia of cooperation in transportation of hydrocarbons on the international markets

of November 11, 1997

The Republic of Kazakhstan and Georgia which are hereinafter referred to as the Party;

being guided by the principles of equal partnership and mutual respect;

wishing to develop bilateral mutually beneficial cooperation;

attaching extremely important significance to development of the oil and gas industry as one of fundamental factors of effective functioning and interaction of economies of the Parties, and understanding special role and value of this industry for future all region; considering mutual interest of the Parties in effective use and building-up of inventories of hydrocarbonic resources and creating favorable conditions for cooperation; recognizing the aspiration of the Republic of Kazakhstan and Georgia to develop reliable and effective ways of transportation of the hydrocarbonic resources on the international markets;

aiming to create favorable conditions for transit of hydrocarbonic raw material through their territories on the international markets;

agreed as follows:

1. The parties note special importance of projects implementation of construction of the regional export pipelines for transportation of hydrocarbonic raw material providing safe safe and effective delivery of hydrocarbonic raw material both in their territories, and in the territories of the third countries, on the international markets and will cooperate in this area.

2. The parties support intention to perform laying of the oil pipeline through the territories of the Parties and in this regard consider it expedient to study technical and economic possibility of its realization.

3. The parties will provide mutual support each other in questions of studying and preparation of the feasibility statement on the Construction of the pipeline passing through the territories of the Parties for transportation of hydrocarbons and will create favorable conditions for joint activities.

4. For the purpose of implementation of this Memorandum of the Party will create the bilateral technical commission which will adopt the rules and procedures. Each of the Parties will be provided to the Commissions by necessary number of the representatives.

This Memorandum becomes effective from the moment of signing.

It is made in Almaty on November 11, 1997 in duplicate, everyone in the Kazakh, Georgian and Russian languages, and all texts are equally authoritative.

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