BAKU, Azerbaijan, January 27. Kazakhstan's Taraz tanker, carrying oil from the Kashagan field, has departed from the Aktau port en route to Azerbaijan's Baku, Trend reports citing KazMunayGas.
The supply is being carried out as part of the implementation of a directive issued by Kazakhstan’s President, Kassym-Jomart Tokayev, to develop alternative export routes for the country's domestic hydrocarbons. This initiative is being executed by the group of companies "KazMunayGas," which is tasked with diversifying and expanding the export pathways for Kazakhstan's oil and gas resources.
The oil will be transported through the Baku-Tbilisi-Ceyhan (BTC) pipeline system, which will carry it all the way to the Mediterranean Sea. The exporter responsible for this shipment is "KMG Kashagan B.V." (KMGK). This strategic move is aimed at further strengthening and developing the Trans-Caspian International Transport Route (TITR, also known as the Middle Corridor).
Notably, a framework agreement was signed between Kazakhstan’s "KazMunayGas" (KMG) JSC and Azerbaijan’s State Oil Company (SOCAR) regarding the transit of Kazakh oil in 2022.
Moreover, KMG and SOCAR signed an agreement to gradually increase the volume of oil transit through Azerbaijan in March 2024. Under this agreement, annual delivery volumes are expected to reach 2.2 million tons.
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