More Kazakhstani oil to cross the Caspian in 2008
By M. Alkhazashvili
(Translated by Diana Dundua)
(Translated by Diana Dundua)
Wednesday, December 12
Kazakhstani oil transit over the Caspian Sea is set to increase in 2008, according to the Regnum news agency. The flow of Kazakhstani oil from along the Aktua–Baku ferry route decreased in 2007 due to a port tax hike in Azerbaijan.
US oil company Chevron recently stated that an additional two million tons per year would be exported from the Tengiz oil field to Azerbaijan, which has helped put the predicted total oil transit along this route at eight million tons for 2008. Chevron hopes to increase oil transit along this route to five million tons per year within the next few years, Regnum reports.
This will boost the Transport Corridor Europe–Caucasus–Asia (TRACECA) organization in its ambition to facilitate a modern day equivalent to the Great Silk Road. TRACECA, which is backed by the European Commission, was established in 1998 with the aim of supporting economic and political development in the Black Sea Region.
US oil company Chevron recently stated that an additional two million tons per year would be exported from the Tengiz oil field to Azerbaijan, which has helped put the predicted total oil transit along this route at eight million tons for 2008. Chevron hopes to increase oil transit along this route to five million tons per year within the next few years, Regnum reports.
This will boost the Transport Corridor Europe–Caucasus–Asia (TRACECA) organization in its ambition to facilitate a modern day equivalent to the Great Silk Road. TRACECA, which is backed by the European Commission, was established in 1998 with the aim of supporting economic and political development in the Black Sea Region.