ASTANA, Kazakhstan, January 27. KazMunayGas (KMG, Kazakhstan's national oil and gas company) and Croatian Jadranski Naftovod d.d. (JANAF) have signed a memorandum of understanding, Trend reports.
The document was signed by Deputy Chairman of KMG Bulat Zakirov and Chairman of the Board of JANAF Stepan Adanić.
Thus, the document involves a joint study of the possibilities of business cooperation in the field of transportation and storage of oil and petroleum products.
In addition, it reflects the parties' interest in continuously improving sustainable management and the intention to exchange experiences in responding to global energy challenges.
Zakirov noted that the memorandum lays the foundation for further mutually beneficial cooperation with the Croatian side in the energy sector.
In turn, Adanić pointed out that the signing of the document will contribute to the development of cooperation in the field of the transportation of Kazakh oil to European markets.
Meanwhile, in the context of reformatting logistics connections and energy supply routes, the Adria oil pipeline system (crude oil pipeline in Croatia, Serbia, and Hungary with branch lines to Slovenia and Bosnia and Herzegovina) plays a key role in transporting oil and petroleum products to the countries of South-Eastern Europe. Over the 11 months of 2023, over $303 million worth of Kazakh oil was transported along this route.