ALMATY, Jan 28 (NNN-XINHUA) – Kazakhstan’s Taraz tanker, carrying oil from the Kashagan field, departed from the Aktau port, en route to Azerbaijan’s Baku port, KazMunayGas, Kazakhstan’s national oil and gas company, said in a press release, yesterday.
The supply is being carried out as part of the implementation of a directive, issued by Kazakh President, Kassym-Jomart Tokayev, to develop alternative export routes for the export of domestic hydrocarbons.
The oil will be transported through the Baku-Tbilisi-Ceyhan (BTC) pipeline system, which will carry it all the way to the Mediterranean Sea. This strategic move is aimed to further strengthening and developing the Trans-Caspian International Transport Route, also known as the Middle Corridor.
In 2022, a framework agreement was signed between Kazakhstan’s KazMunayGas and Azerbaijan’s State Oil Company (SOCAR), regarding the transit of Kazakh oil.
The two parties signed an agreement to gradually increase the volume of oil transit through Azerbaijan in Mar, 2024. Under this agreement, annual oil delivery volumes are expected to reach 2.2 million tonnes.
Kashagan is the largest oil and gas field in the Kazakh section of the Caspian Sea. In Nov, last year, the Kashagan oil field resumed operation to full capacity, after a month-long closure for essential maintenance.– NNN-XINHUA
