Oil of third countries not required to ensure profitability of Baku-Ceyhan pipeline: economic expert

“Russia’s decision will not affect Baku-Ceyhan project for the simple reason that no third country oil is needed to ensure profitability of the Baku-Ceyhan pipeline. Baku oil produced in Azeri-Chirag-Gunashli fields ensures profitability of the Baku-Tbilisi-Ceyhan pipeline. Those volumes of Kazakh oil from the Tengiz field which now is pumped via the Baku-Ceyhan ensure profitability and recompense of the project,” the expert said.

“Besides, Azerbaijan and Kazakhstan have agreed to establish a joint company to deal with implementation of  Kazakh Caspian Oil Transportation System. It provides that after the commencement of development of Kazakhstan's Kashagan oil field, the oil from the field will be pumped via Kazakhstan Caspian System,” he said.

“This system involves laying pipelines in Kazakhstan and building oil terminal in the town of Kuryk (Kazakhstan) oil will be delivered to Baku via tankers. Capacity of the Baku-Ceyhan pipeline can be expanded to 65 million tons of oil annually from the current 50 million tons. Part of Kazakh oil from the Kashagan field will be exported via Baku-Ceyhan project while the other part will be exported by Baku - Supsa to the Black Sea. So the impact on the Baku-Ceyhan pipeline is out of question. These are quite different projects,” Sharifov said.

 /Day.Az/