More than $1.5 billion required to create Kazakh Caspian oil transportation system

According to him, the system will include a pipeline Iskene-Kuryk with an oil terminal, transportation by tankers through the Caspian Sea to Baku and further - via the pipeline Baku-Tbilisi-Ceyhan.

"This system will allow to transport annually 25 million tonnes from Kuryk port at the first phase with a following increase to 38 million tonnes per annum," he has stressed, Kazakhstan Today correspondent reports.

He has also observed that around $700 million will be invested into construction of a terminal in Kuryk port. Around $400 million will be invested into the construction of tankers. Also it is planned to build up a terminal on the territory of Azerbaijan. Its value is going to amount to $570 million. Gazeta.Kz