BAKU, Azerbaijan, May 9. The EU sees the development of alternative routes for oil supplies from Kazakhstan as vital, Kestutis Jankauskas, EU Ambassador to Kazakhstan, told Trend.
"Kazakhstan is trying to diversify its oil supplies to Europe and world markets. One option is to ship it via the Caspian Sea and Azerbaijan. The amount of trans-Caspian oil transit has been growing for the last two years, but it is limited due to a lack of port and shipping infrastructure. Developing and having alternative export routes is always important," he said.
According to him, Kazakhstan has been an EU energy partner for decades, currently supplying over 8 percent of the EU’s oil consumption.
"This became even more important after Russian oil stopped entering the EU market. The majority of that oil flows via the CPC pipeline, and the EU exempted oil not originating from Russia from its sanctions," Jankauskas noted.
Speaking about the Trans-Caspian route, the ambassador pointed out that this transport corridor provides a possibility to send cargo between Europe and Central Asia, the EU, and China without crossing countries under sanctions. As its infrastructure continues to improve, it will also offer faster delivery compared to the sea route.
"For the corridor to function properly and offer a viable alternative transportation route, all countries along it should work together, enabling smooth shipment procedures. That involves not only countries in Central Asia, but also Azerbaijan, Georgia, Armenia and Türkiye," he added.
Meanwhile, Kazakhstan's trade turnover with the EU countries amounted to $42.6 billion from January through December 2023. The volume of trade turnover increased by 1.7 percent compared to the same period in 2022 ($41.8 billion).
At the same time, in the structure of trade turnover, exports to the EU countries for the above period amounted to $31.7 billion, which is 6.4 percent less than from January through December 2022 ($33.8 billion).
In addition, imports from the EU countries from January through December 2023 increased by 36.1 percent and amounted to $10.9 billion. In 2022, imports amounted to $8 billion.
Furthermore, Kazakhstan produced 90 million tons of oil in 2023, which is 6.9 percent higher than in 2022. Oil exports also increased and amounted to 70.5 million tons, which is 9.6 percent more than the previous year.
Moreover, Kazakhstan plans to increase oil production in 2024 to 90.3 million tons.