Kazakhstan Increases Oil Exports Along Trans-Caspian Route
KazTransOil JSC (a subsidiary of Kazakhstan’s national oil and gas company, KazMunayGas JSC), exported 3,620,000 tons of oil from the Caspian port of Aktau in the eleven months of 2023 so far, which is 1,014,000 tons, or 50% more compared to the same period last year, the company said on December 11th.
The increase in the volume of transportation of Kazakh oil for export from the port of Aktau is due to an increase in the volume of raw materials shipped towards the port of Baku, from 205,000 tons to 1,238,000 tons, a sixfold increase on the same period in 2022. In addition, in the reporting period, 1,824,000 tons of oil were shipped from Aktau towards the port of Makhachkala (Russia).
In 2022, the President of Kazakhstan, Kassym-Jomart Tokayev ordered an increase in the volume of oil transportation along the Trans-Caspian corridor. In accordance with this instruction, JSC NC KazMunayGas and the state oil company of Azerbaijan, SOCAR, entered into an agreement providing for the transportation of 1,500,000 tons of oil per year from the Tengiz field in the direction of the Baku-Tbilisi-Ceyhan oil pipeline.
