SOCAR and KazMunayGas discussed increasing the transit of Kazakh oil through Azerbaijan

The State Oil Company of Azerbaijan (SOCAR) and Kazakhstan's "KazMunayGas" (KMG) discussed increasing the volumes of Kazakhstani oil transported through Azerbaijan.

BAKU.WS reports this with reference to SOCAR.

According to the information, today the company's president Rovshan Najaf met with the chairman of the board of "KazMunayGas" Askhat Khassenov. At the meeting, it was emphasized that the strategic relations between Azerbaijan and Kazakhstan in the energy sector are developing successfully.

The parties discussed the progress of the implementation of activities stipulated by the memorandum signed between SOCAR and KMG in 2024. In particular, the prospects for increasing the volumes of transportation of Kazakhstani oil through the territory of Azerbaijan were discussed, as well as the possibilities of deepening partnership in various areas of the energy sector.

Kazakhstan exports oil for the Baku-Tbilisi-Ceyhan (BTC) pipeline from the Caspian port of Aktau by tankers to Baku.

It should be recalled that in 2022, a general agreement on the transit of Kazakhstani oil was signed between "KazMunayGas" (KMG) and the State Oil Company of Azerbaijan (SOCAR). In March 2023, a test shipment of 7 thousand tons of oil from the Kashagan field through Azerbaijan was carried out.

In March 2024, KMG and SOCAR signed an agreement on the phased increase of oil transit through the territory of Azerbaijan. According to the document, the supply volume is planned to be increased to 2.2 million tons per year.

Gallery