Kazakhstan says it will not to bear the cost for pipeline replacement at the troubled Caspian offshore project. Speaking about the current fall in oil prices, it would not be fair not to tell about the fate of Kashagan (North-Caspian project) which is the main trump project of Kazakhstan, neurope.eu reports. It should be recalled that the government expected to get a significant increase not only in oil, but also the arrival of new investors with this project. However, the pinned hopes have not been realized. In September 2013, oil production at Kashagan was suspended before it even started due to detection of leaks in oil and gas pipelines. Given the high ground pressure in this part of the Caspian Sea, none of the shareholders of the international consortium, which led development of this world’s largest deposit, did not dare to take risks. The project was suspended. Investigation of the causes of cracks in pipelines began to find out who is to blame for what happened after billions of dollars had been invested in the field construction. But there is still no exact answer.
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INC News, 26/01/2015 - via AK ZHAIK
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