The Caspian Pipeline Consortium (CPC) remains the most cost-effective route for shipping Kazakh oil, but other transportation options are considered amid production growth, Kazakh Energy Minister Bolat Akchulakov said, Interfax reports.
"Today, CPC is the most cost-effective route for Kazakh oil exports. Maintaining the continuous operation of the pipeline system is the key to providing steady supplies of Kazakh oil, which is vital for the country's economic growth," the minister said at a press conference on Thursday.
He said Kazakhstan expected to increase oil production from the current 85.7 million tonnes to 103-107 million tonnes in the next two years.
"We should think about extra shipping capacity for oil and consider other options including boosting shipments through the existing oil pipeline to China and oil supplies across the Caspian Sea. Shipping some volume via the Caspian Sea to Azerbaijan is a technical issue that does not envisage huge shipments, but any surplus that we may have," he said.
Akchulakov said the smooth operation of the CPC remains a priority, while alternative routes are being been weighed up amid rising production.
