Azerbaijan is ready to pump oil from the field "Kashagan" to the EU, said Azerbaijani Ambassador to Kazakhstan Zakir Hashimov. "Azerbaijan is ready to provide its transit potential for friendly countries. Kazakhstan freely uses this route. This year has been restored transportation of Kazakh oil via the Baku-Tbilisi-Ceyhan oil pipeline to Europe. We believe that after the launch of Kashagan volume of transit of Kazakh oil through BTC will increase," said Gashimov in an interview with "KazTAG." According to him, the pipeline is designed to ensure that pump oil required for all quantities. The capacity of the BTC is 1.2 million barrels of oil per day. Currently, it transports oil from Azeri-Chirag-Guneshli and condensate from the Shah Deniz field and Turkmen oil. Production at Kashagan (the Kazakh sector of the Caspian Sea) was stopped in September of last year due to a gas leak. The resumption of production at Kashagan oil and gas field is expected in the second half of 2016.
Kashagan is one of the largest fields in the world, and its reserves are estimated at 4.8 billion tons of oil. -02D-
Economics
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Azerbaijani Economy Minister Mikail Jabbarov met with a Chinese delegation led by Shen Yi, Deputy Executive Chairman of the All-China Federation of Industry and Trade, on Tuesday to explore collaboration on green energy transition and expand bilateral trade and economic ties.
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Azerbaijan’s Working Group on International Trade held its latest meeting on September 19, assessing the nation’s progress in enhancing its trading environment over the past year. Chaired by First Deputy Economy Minister Elnur Aliyev and Vusal Shikhaliyev, the session included representatives from various government agencies and the private sector.
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Azerbaijan commemorates the 30th anniversary of its pivotal Production Sharing Agreement (PSA) for the Azeri-Chirag-Guneshli (ACG) oil fields, a cornerstone of the nation’s economic transformation. Signed on September 20, 1994, the PSA was extended in 2017 through 2049, ushering in the second phase of what is dubbed the “Contract of the Century.”
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The heads of railway administrations from Azerbaijan, Turkey, Uzbekistan, Kyrgyzstan, Tajikistan, China, and Austria have signed a protocol establishing the International Association "Eurasian Transport Route." The agreement, formalized during an advisory meeting, signifies a major step toward enhancing cooperation on the growing Eurasian logistics network.
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