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Kazakh national oil company increases oil transportation volume

Oil&Gas Materials 7 June 2019 17:25 (UTC +04:00)

Baku, Azerbaijan, June 7

By Nargiz Sadikhova - Trend:

In 1Q2019, Kazakh national oil company KazMunayGaz transported 19,660,000 tons of oil via pipelines, which is an increase by 6,7 percent compared to the same period of last year, Trend reports with reference to press office of the company.

The main growth of oil transportation volumes is due to an increase in sea transportation, which is carried out by National Maritime Shipping Company Kazmotransflot. In 1Q2019, the volume of transportation by Kazmotransflot amounted to 2,856,000 tons, which is up 66.7 percent on a year-on-year basis.

The growth is related to an increase of the oil transportation volume in the Mediterranean and Black Sea.

Caspian Pipeline Consortium also increased volumes of the trunk oil transportation, which is due to the growth of the oil extraction volume from Kashagan oil field. The share of KazMunayGaz in this volume increased by 8.2 percent compared to the same period of last year and amounted to 3,357,00 tons.

During 1Q2019, gas transportation volumes decreased by 3.6 percent and reached 25.9 billion cubic meters mainly due to a decline in transit gas volumes caused by the reduction in the supply of Uzbek gas and the redistribution of Russian gas flow by Gazprom.

Gas export volumes amounted to 6.5 billion cubic meters, reflecting an increase of 15.2 percent, primarily due to gas export to Chinain line with the five-year bilateral agreement. Signed in 2018, the agreement aims to double Kazakh natural gas exports to China from five billion cubic meters to ten billion cubic meters per year.

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