Increase in oil production in Azerbaijan, Kazakhstan and Iran to enhance competition in Mediterranean region: Vitol President
Kazakhstan, Astana, Sept. 24 / Trend , K.Konyrova, E.Ismayilov/
Increasing oil production in Lebya, Azerbaijan and Iran will lead to a high level of competition in the Mediterranean region, President of the Vitol Group of Companies, Ian Taylor said during his speech at the fourth Eurasian Energy Forum in Kazakhstan on Sept. 24.
Taylor said Kazakhstan will produce2.5 million barrels of oil per day by 2015, given the Kashagan, Tengiz and other fields, which will strengthen the role of Kazakhstan as a major energy supplier.
"But the main difference of Kazakhstan from other oil-producing countries in that it has a very flexible policy on the delivery of its energy resources to world markets. As you know, Libya, Azerbaijan, and Iran also has the task to increase oil production, and this will trigger high competition in the Mediterranean Sea," said Taylor.
Taylor said that Kazakhstan can devote their energy to China. "And it demonstrates once again the flexibility of its policies in the transportation of its energy resources," added Taylor.
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