Minister: Part of Kashagan oil in Kazakhstan may be sold to China
Kazakhstan, Astana, October 8/ Trend D.Mukhtarov /
Kazakh Oil and Gas Minister Uzakbai Karabalin does not exclude the possibility of sending a portion of the oil produced at Kashagan field to China.
"If China proposes a relevant price equal to the price in Novorossiysk, then I believe the consortium members will want to sell a portion of the oil to China," the minister said at a press conference on Tuesday.
He stressed that according to the agreements, each member of the consortium has the right to sell oil by itself whilst selling oil from Kashagan.
"This means the choice of the route and price will depend on the consortium members themselves who work at Kashagan. The Chinese route is one of the better directions, as today the facilities of the Caspian Pipeline Consortium are insufficient to provide all those who would like to transport oil to Novorossiysk, but at the same time we can increase the facilities for transportation to the larger Chinese market," Karabalin stressed.
""We cannot speak for other members of the consortium on which volumes will go to China. Consortium members will produce their own share of oil and sell them, but the prospects are there and Kazakhstan provides such an opportunity for members of the consortium," he said.