Azerbaijan and Kazakhstan plan to build a 739km oil pipeline, Azerbaijan’s Energy Minister Natig Aliyev said on on October 6 in an article published by local Respublika newspaper.
The Eskene-Kuryk-Baku oil pipeline is planned to be part of the Kazakhstan Caspian Transportation System (KCTS), which, along with neighbouring Turkmenistan’s hopes for a Trans-Caspian Gas Pipeline, is likely an unachievable goal due to Russia’s insistent opposition to such projects.
“Construction of this pipeline will enable Kazakhstan to export its oil to ports in Georgia and Turkey,” Aliyev said. Earlier reports revealed that Azerbaijan and Kazakhstan have signed an agreement to resume exports of liquefied petroleum gas (LPG) via the Georgian port of Batumi to Europe. If constructed, Eskene-Kuryk-Baku pipeline will likely support the two countries’ efforts at restarting LPG exports via Georgia.
“The initial annual capacity of the new pipeline will be 23-25mn tonnes with the possibility of future expansion to 56mn tonnes,” Aliyev said. “The feasibility study of the Eskene-Kuryk section of the pipeline envisages construction of an oil pumping station at the Tengiz field, Tengiz-Oporny-Uzen-Aktau main oil pipeline, an oil terminal and a new port in Kuryk village, as well as reconstruction and expansion of the port in Aktau city.”
The parliament of the disputed enclave of Nagorno-Karabakh voted in President Bako Sahakyan for a third term in power on July 19, with 28 voting in favour and four against. The result was ... more
An overwhelming majority of creditors (93.9%) to the International Bank of Azerbaijan (IBA) approved the bank's ... more
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more