Kazakhstan considers construction of new Caspian oil terminal

May 05, 2005 02:00 AM

The Kazakh government is considering the construction of another seaport on the Caspian Sea to handle increased volumes of output of oil from offshore and onshore fields.
Kazakhstan is already experiencing bottlenecks with the increase of oil transportation through the Caspian Pipeline Consortium's Tengiz-Novorossiisk line, and therefore wants to develop marine infrastructure more intensively, Prime Minister Daniel Akhmetov was quoted as saying.

Currently Kazakhstan exports about 40-45 mm tpy of oil, the equivalent of 800,000-850,000 bpd. Of this, some 8 mm tons is transported by sea via the port of Aktau on the north-east shore of the Caspian. By 2016, Kazakhstan forecasts Caspian-borne oil exports will increase to 38 mm tpy.
Aktau, the sole Kazakh port on the Caspian, shipped 3.23 mm tons of oil in the first four months of the year, the equivalent of nearly 200,000 bpd. That is up 38 % from the same period last year.

The new port will be located in the Kuryk bay close to the giant Kashagan field, which is being developed by an international consortium led by Italy's ENI. The port is also close to Azerbaijan's Samgatel terminal, which is connected to the new Baku-Tbilisi-Ceyhan pipeline.
Akhmetov said that Kazakhstan also intends to expand Aktau to handle dry cargos.

Source: Dow Jones
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