Kazakhstan receives 2 tankers for planned growth in oil transit through Baku in 2024

Kazakhstan is interested in the growth of oil transit through Baku in 2024, so it received two tankers this weekend that are capable of raising the transportation of "black gold" through the Caspian Sea to Azerbaijan by 750.000 tons per year, — the Kazakh media reports.

Note that the oil tankers were purchased within the framework of cooperation between "KazMunayGas" JSC NC (KMG) and "Abu Dhabi Ports Group" (ADP). The owner of the new tankers with a deadweight of 8,000 tons is the joint venture "Caspian Integrated Maritime Solutions" Ltd (CIMS), whose shareholders are "NMSK Kazmortransflot" LLP (a subsidiary of KMG) and "International Maritime Investments" Ltd (a subsidiary of ADP).

Note that the vessels were built at the shipyard of the Dutch concern "Damen". The length of the tankers is 140 meters, width — 16.7 meters, draft — 4.2 meters, speed — 10 knots. They are equipped with advanced control systems, have high technical characteristics and modern equipment, which ensures their reliability and efficiency. Also, tankers "Taraz" and "Liwa" comply with all international safety standards and environmental requirements. The new tankers are planned to be put into operation in December 2023.

President of Kazakhstan Kassym-Jomart Tokayev met on November 27 with managing director of "Abu Dhabi Ports Group" Mohammed Zhuma al-Shamisi and discussed the development of the Aktau and Kuryk ports in the Caspian Sea.

At that, the President positively assessed the cooperation between the domestic company "KazMunayGas" and "ADP" on the transportation of Kazakh oil through the "Middle Corridor" (Trans-Caspian route) to Azerbaijan.

Recall that the "KazMunayGas" has been shipping Kazakh oil along the Aktau—Baku—Tbilisi—Ceyhan route since March 2023, and this volume may reach 1.5 million tons in 2023.

Last week in Baku, the Presidents of Azerbaijan and Kazakhstan discussed the possibilities of raising the transportation of Kazakhstan's oil via BTC, but did not specify the volumes.

In an interview with Turan, a source in SOCAR confirmed plans to raise transit in 2024 and discuss the upcoming final rounds of concrete negotiations.

"There will be growth, and in view of the fact that this will not worsen the quality indices of "BTC Blend". This is not about a quality bank or cost compensation in case of deterioration of the quality of BTC Blend with the Kazakh side. The volumes for 2024 are at the final approval stage," the source said.

Add that "BTC Blend" is based on Azeri Light grade oil (Azeri-Chirag-Guneshli deposits), which is traded at a premium to the "Brent" benchmark.

The main volume of Kazakhstan's oil under BTC is oil from the Tengiz onshore field. There are also volumes from Kashagan and Karachaganak.-