Fitch Names Azerbaijan As Key Alternative Route For Kazakh Uranium Exports

(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 26. The Trans-Caspian International Transport Route (Middle Corridor) through Azerbaijan and Georgia is the main alternative route for Kazatomprom to export uranium from Kazakhstan.

This was stated in a press release by international rating agency Fitch Ratings.

The agency noted that Kazatomprom remains exposed to geopolitical risks, as its primary export route to western customers, accounting for more than half of its uranium shipments, runs through the Russian port of St. Petersburg.

"There are no current restrictions on exporting uranium from Russia, but we believe potential sanctions, if introduced, might disrupt shipments. The main alternative is the Trans-Caspian International Transport Route through Azerbaijan and Georgia, where Kazatomprom shipped 48% of its deliveries to western customers in 2025. The company also has the option of swaps for foreign inventories," Fitch said.

Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Kazatomprom at "BBB", with a Stable Outlook.

The Middle Corridor is a transport and trade route connecting Asia with Europe through several countries in the region. It serves as an alternative to the traditional Northern and Southern corridors.

The route starts in China and runs through Central Asian countries before crossing the Caspian Sea and continuing through Azerbaijan, Georgia, and Türkiye to Europe. The Middle Corridor is a multimodal land-based route that provides a link between eastern parts of Asia, including China, and Europe, avoiding longer maritime routes.

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