For Kazakhstan, the Caspian Pipeline Consortium (CPC) has no equal in terms of economics and scale, and no alternative has been found yet. This was stated by the head of KazMunayGas, Askhat Khasenov, at a meeting of the public council of Samruk-Kazyna. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
According to him, building large oil storage facilities in Kazakhstan is very expensive. This is because there are no developed deposits and salt domes needed to create underground reservoirs.
"In terms of economics and scale, CPC has no alternative. But this does not mean that we are not considering other options. For example, KazTransOil's tank farm currently amounts to about 1.4 million cubic meters, and we are constantly increasing it," Khasenov said.
The meeting also noted that in seven months, KMG produced 14.5 million tons of oil against a plan of 15.3 million tons. The failure to meet the plan was due to the suspension of oil production at the Tengiz field after a fire at power plant transformers in January, as well as disruptions in CPC operations due to attacks by Ukrainian drones on the consortium's infrastructure and tankers.
About 80% of Kazakhstan's export oil is pumped through the CPC pipeline.