IIR Industry Alert: Caspian Oil Pace Breeds New Pipeline Plans And Crude Swap Terminal

Market pressure is also increasing Caspian oil 'swapping' deals against the wishes of some major oil sources that see the swapping method as giving the middle men/traders an unnecessary chop into the action.

Houston -- August 5, 2002 -- Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). The Kashagan oilfield discovery in Kazakhstan is now estimated at 7 to 9 billion barrels of recoverable oil, up at least 30% from when the first announcements of the find were made earlier this year. The magnitude of the resource should see Kazakhstan becoming one of the worlds major energy exporters by the end of the decade and is precipitating urgent planning for processing plants and pipelines to be constructed in time for the start of production in late 2005.

Planning to triple oil production before 2020 to something just under 2,700,000 bpd, the ministry of energy is looking at scenarios for a number of pipeline routes to handle the export gush. Currently a recently completed pipeline to a Black Sea terminal is coping with the countrys needs. New routes are being considered to China and India, as these destinations are attractive with massive and fast growing markets for energy.

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