Kazakhstan's KMG Eyes Expansion Of Oil Transportation Through Azerbaijan - Chairman


(MENAFN- Trend News Agency) ASTANA, Kazakhstan, February 29. KazMunayGas JSC (KMG, Kazakhstan's national oil and gas company) plans to increase the volume of oil transportation through Azerbaijan, said Chairman of the Board of KMG Magzum Mirzagaliyev, Trend reports.

"The head of state (President of Kazakhstan Kassym-Jomart Tokayev) set the task of developing the so-called Middle Corridor or Trans-Caspian International Transport Route (TITR), which includes transportation across the Caspian Sea. As part of this route, last year we began transporting oil in the direction of Baku and further along the Baku-Tbilisi-Ceyhan (BTC) oil pipeline. Our plans are to increase transportation volumes along this route," he said.

As he pointed out, this does not mean that Kazakhstan is looking for an alternative to the Caspian Pipeline Consortium (CPC) oil pipeline.

"CPC remains reliable, stable and, most importantly, the fastest route for delivering our oil to export markets. Last year, we also began transporting oil towards Germany. At the end of 2023, we transported almost 1 million tons of oil to this country, and we expect that this year we will exceed this volume," Mirzagaliyev noted.

To note, in 2023, Kazakhstan transported 1.392 million tons of oil via the BTC, which is 5.5 times more than in 2022.

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