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Tengizchevroil to continue using Caspian Pipeline Consortium as main export route

Kazakhstan Materials 21 February 2023 12:33 (UTC +04:00)
Tengizchevroil to continue using Caspian Pipeline Consortium as main export route
Emin Sevdimaliyev
Emin Sevdimaliyev
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BAKU, Azerbaijan, February 21. Tengizchevroil, the operator of Tengiz and Korolev oil fields, will continue using Caspian Pipeline Consortium as a key export route, Kevin Lyon, the Managing Director of Tengizchevroil, said, Trend reports, citing Kazakh media.

Lyon noted that the pipeline will remain the primary export route due to its reliability and economic feasibility.

He also stressed the importance of developing alternative export directions, considering the unforeseen challenges experienced on the said route in 2022.

“In terms of oil exports, we are working with Kazakhstan and KazMunayGas [national oil and gas company] to find other opportunities by utilizing the Trans Caspian route, which includes railroad and maritime transportation,” the Managing Director added.

Earlier, Kevin Lyon said that Tengizchevroil was unable to start oil exports via the Baku-Tbilisi-Ceyhan pipeline due to the devastating earthquake in Turkey.

Tengizchevroil aimed to utilize the Baku-Tbilisi-Ceyhan pipeline to diversify the export opportunities available. Chevron holds a 50 percent share in Tengizchevroil, ExxonMobil Kazakhstan Ventures Inc holds a 25 percent share, while the national oil and gas company KazMunayGas and Lukarco have a share of 20 percent and 5 percent respectively.

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