Kazakhstan’s national oil and gas company, KazMunayGas (KMG), is studying options to increase the shipment of Kazakh crude oil through the Trans-Caspian route. Askhat Khassenov, KMG’s CEO, announced this during negotiations in Baku last week with Rovshan Najaf, president of Azerbaijan’s State Oil Company SOCAR.
In 2022, KMG and SOCAR signed the five-year Aktau-Baku-Ceyhan Oil Transit Agreement to transport 1.5 million tons of crude oil annually.
In 2023, 1.057 million tons of oil were shipped from the Kazakh port of Aktau, and in the first half of this year, the figure exceeded 700,000 tons.
During his visit to Baku, Khassenov visited the BP Sangachal and Azertrans terminals, a Kazakh oil transit hub.
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