Insight

Caspian upstream: 5 things to look for in 2024

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Delayed FIDs and start-up dates will be front of mind as the Caspian region enters 2024. Opportunities taken or missed will have long-lasting consequences for production, export dynamics and the regional investment outlook. Big decisions are needed in 2024 to advance the region's large-scale opportunities. More feet-dragging risks stranding vast discovered resources indefinitely. Powered by Lens Upstream, we highlight the five key themes to watch in 2024.

Table of contents

    • 1. Delayed Tengiz expansion will stall Kazakh crude growth
    • 2. Crunch time for Azerbaijan’s Europe gas export ambitions
    • 3. Seeds will be sown for future investment growth
    • 4. Intra-regional flows will support Central Asian piped gas exports to China
    • 5. Western IOCs will drive renewables and emissions-reduction progress
    • What to look for in 2024 – a regional upstream series

Tables and charts

This report includes the following images and tables:

  • Kazakhstan crude and condensate production – then and now
  • Sources of feedstock for expanded gas exports to Europe
  • Caspian upstream development investment outlook
  • Intra-regional gas flows in Central Asia

What's included

This report contains:

  • Document

    Caspian upstream: 5 things to look for in 2024

    PDF 1.50 MB