About the Caspian Pipeline Consortium

Decree of the President of the Republic of Kazakhstan dated April 19, 1997 N 3464

In order to implement the agreements on the establishment of the Caspian Pipeline Consortium and considering their special importance in the strategic development of the oil industry of the Republic of Kazakhstan

I DECREE:      

1. To accept the proposal of the Government of the Republic of Kazakhstan on the approval of contracts related to the activities of the Caspian Pipeline Consortium.      

2. The National Bank of the Republic of Kazakhstan:      

1) not to introduce a mandatory sale of proceeds in foreign currency from the export of services for the transportation of liquid hydrocarbons in respect of the joint Stock company "Caspian Pipeline Consortium - K" (hereinafter referred to as JSC "CPC-K") for the period of validity of the contracts specified in paragraph 1 of this Decree;      

2) to ensure the opening of accounts in foreign currency of CPC-K JSC in banks both in the territory of the Republic of Kazakhstan and abroad;

3) allow CPC-K JSC to receive foreign currency from residents of the Republic of Kazakhstan for services related to transportation of liquid hydrocarbons.

3. This Decree comes into force from the date of signing.

President    

Republic of Kazakhstan     

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