On March 9, Chairman of the Board of NC KazMunayGas JSC (KMG) Magzum Mirzagaliev held a meeting with President of the State Oil Company of Azerbaijan Republic (SOCAR) Rovshan Najaf in Baku, QazMonitor reports citing the press service of KMG.
Agenda: The parties discussed a gradual increase in the volume of transit of Kazakh oil through the Baku–Tbilisi–Ceyhan oil pipeline and issues of transporting Kazakh oil through the Baku–Supsa oil pipeline.
Gradual increase: Magzum Mirzagaliyev noted the prospects in Kazakh oil transit increase.
“For KazMunayGas, SOCAR is the most important strategic partner. We are confident that the gradual increase in transit volumes of Kazakh oil will give a new impetus to the development of beneficial cooperation,”
The numbers: In 2022, KMG and SOCAR signed a five-year agreement on the transit of 1.5 million tons of oil annually along the Aktau–Baku–Ceyhan route. In 2023, 1,057,000 tons of oil were shipped from the port of Aktau, and 232 thousand tons in January–February 2024.