Kazakhstan aims to use the Trans-Caspian International Transport Route to diversify oil exports from 2024, when production will increase in the country.
According to the Minister of Energy of the country Bolat Akchulakov, Kazakhstan would like to be ready for new routes until the moment of increasing production in the country in order to diversify oil exports.
An increase in oil production by about 12 million tons is expected from mid-2024 based on the results of the implementation of the program for the future expansion of the Tengiz field, he said.
“Approximately some part of these volumes we will have to start using in full for the so-called diversified routes through the Caspian Sea. But before that, we must discuss whether that side is ready to accept such volumes of oil into its oil pipeline system,” the head of the Ministry of Energy noted.
The minister clarified that to use this route “it will be necessary to implement a fairly large amount of infrastructure, including not only pipeline transport and mooring facilities, but also an increase in the number of tankers in the Caspian that could transport this oil.”
“This issue is complex, we are studying it in detail,” he concluded. Akchulakov specified that currently Kazakhstan exports 65-67 million tons annually through two oil pipelines – CPC and Atyrau-Samara.
As reported, in early July, President of Kazakhstan Kassym-Zhomart Tokayev instructed KazMunayGas to work out the best options for implementing the Trans-Caspian international route in order to diversify supplies of Kazakh oil. At present, the main export route for Kazakh oil is the Caspian Pipeline Consortium (CPC) system. It accounts for more than 80% of the volumes pumped through the pipeline.
Caspian Barrel
