Russian and Chinese oil markets for Kazakhstan

Nov 26, 1996 01:00 AM

Russia and China are the main future markets for Kazakh crude oil, according to Kazakh Prime Minister Akezhan Kazhegeldin. "China is importing oil today and I'm sure Russia will do the same in 15 years,'' he said in Moscow. "In three or four years, the world market for us will be Russia and China. And we won't need to seek ports or other outlets.'' Kazakhstan and Russia, however, have both said this year that they are eyeing Chinese and South Asian oil markets via possible Trans-Asian and Trans-Siberian pipelines in a strategy which could put them in competition with each other. Kazhegeldin did not say how Almaty planned to widen its oil export capabilities, including routes for Uzen oil, but said the Caspian Pipeline Consortium (CPC) project connecting Kazakhstan's Tengiz field to Russia's Black Sea oil export outlet Novorossiisk would help. CPC is the first of several proposed export pipelines that will be needed to carry future Kazakh and other Caspian regions' crude oil output to Western and possibly Asian markets. Kazakhstan has 700 mm tonnes of proven recoverable onshore crude oil reserves, in its continental shelf reserves are estimated at 10 bn tonnes. Kazakhstan produced 20.5 mmt (440,000 barrels per day) of oil in 1995, but has been hampered by a lack of export routes. Russia allots it an export quota of about 70,000 barrels per day through the Russian pipeline system.

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