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Kazakhstan Not Looking for Alternatives to Oil Flows via Russia

OIL

Chairman of Kazakhstan’s KMG said the country is not seeking alternate oil export routes to Europe that bypass Russia, according to Tass.

  • Although Kazakhstan is raising volumes of oil flows via the Baku-Tbilisi-Ceyhan pipeline, it does mean it is an alternative to volumes travelling via the Caspian Pipeline Consortium (CPC), he said.
  • Rather, the development of this route was prioritised after the CPC route was previously blocked because of storms.
  • Around 80% of Kazakh oil is shipped through the CPC via Russia.
  • "The CPC remains a reliable, stable and most importantly, the fastest route to deliver our oil to export markets," he added.
  • He also said that Kazakhstan is trying to develop its fleet of Aframax tankers from two to 12 ,for oil transport of oil from the Tengiz field, noting that las year was the first time Tengiz origin barrels were transported on the open sea.
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