Demand in Kashagan oil export via Caspian sea to arise after 2020

 The demand in the Kazakhstan Caspian Transportation System (KCTS) will arise no earlier than 2020, said Kazakhstan Minister of Oil and Gas Uzakbay Karabalin.

“The demand in the KCTS will arise no earlier than 2020,” said Minister.

  He reminded that goal of the KCTS is to export Kazakhstan oil mainly from the Kashagan field (second and third phases) through the Caspian Sea, via the Baku-Tbilisi-Ceyhan and other oil transportation systems both on the territory of Azerbaijan and other transit countries to the international markets.

“The carrying capacity and development of the system will be defined by the oil production on Kashagan (second and third phases). It is supposed at the initial stage it will total 23 million tons a year,” Karabalin said.

Minister specified that considering full expansion of the Caspian Pipeline Consortium (CPC) by 2015, term and the volume of oil production in the North Caspian Project, “demand in KCTS will arise by the beginning of the Kashagan Phase 2 project, which is no earlier than 2020.”

He also reminded that in 2011 it was decided to suspend the project.

“In the future the project implementation schedule must be synchronized with the schedule of the Kashagan Phase 2 development,” Karabalin added.

Meanwhile, production on the Kashagan field, one of the world biggest field, was suspended in September – two weeks after its commencement, because of the gas leakage.—0--

 

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