ASTANA, Kazakhstan, March 27. Revenue from the transit of Russian oil to China through Kazakhstan will amount to approximately $1.71 billion over the next 10 years, said Energy Minister Almassadam Satkaliev during a speech in the Majilis of Parliament, Trend reports.
"In the period from 2014 through 2023, the total transit of Russian oil to China through the territory of Kazakhstan amounted to 91 million tons. Total transit revenue was $1.327 billion. With an increase in transit, we plan to receive approximately $1.71 billion over the next 10 years," the minister said.
Today, the Majilis of the Parliament of Kazakhstan ratified the protocol signed on June 16, 2023, in St. Petersburg with amendments to the Kazakh-Russian intergovernmental agreement on cooperation in the field of transporting Russian oil through the territory of Kazakhstan to China.
The protocol provides for the extension of the transit of Russian oil to China for the next 10 years (in total, 170 million tons-10 million tons per year) until January 1, 2034.
The protocol for the agreement will then be sent to the Senate (upper house) for review.
Long-term transportation of Russian oil in the amount of 10 million tons per year will take place through a system of trunk pipelines in a certain direction.
Meanwhile, the parties inked an initial agreement in July 2014. Moreover, from 2014 through 2016, 7 million tons of Russian oil were transited annually through the territory of Kazakhstan. Since 2017, the annual supply of Russian oil along the Priirtyshsk-Atasu-Alashankou route has increased to 10 million tons.