On January 24, ahead of the inaugural session of the Kazakh-Croatian Intergovernmental Commission for Economic Cooperation, Deputy Chairman of JSC NC KazMunayGas (KMG), Bulat Zakirov, and the CEO of Croatian oil pipeline operator Jadranski naftovod d.d. (JANAF), Stjepan Adanic, signed a Memorandum of Understanding, QazMonitor reports citing Ministry of Foreign Affairs.
The document outlines collaborative opportunities in transporting and storing crude oil and oil derivatives. Additionally, it reflects the parties' interest in enhancing sustainable management practices and exchanging experiences to address global energy challenges.
Following the signing ceremony, Bulat Zakirov emphasized that the memorandum lays a foundation for expanded cooperation with Croatia in the energy sector. In turn, Stjepan Adanic highlighted that the signed document would contribute to the development of collaboration in transporting Kazakh oil to European markets.
Kazakhstan's Ambassador to Croatia, Akylbek Kamaldinov, underscored the significance of deepening collaboration between KMG and Croatia's national oil operator, JANAF, given Kazakhstan's crucial role in ensuring reliable energy resource supplies to the EU. This enhanced partnership significantly contributes to bolstering energy security.
The Adriatic pipeline system plays a pivotal role in transporting Kazakh oil and petroleum products to Southeastern European countries. Over the first 11 months of 2023, the value of Kazakh oil transported through this route exceeded $303.6 million.