Kazakhstan and Russia plan to extend the transportation of Russian oil to China for another 10 years, Zakon.kz has reported.
The protocol involves updating the volumes of transit, tariffs, and transit oil payment calculations, and also extends the agreement between the governments of Kazakhstan and Russia on cooperation in the transportation of Russian oil through the territory of Kazakhstan to China for ten years.
In particular, the parties are set to create conditions for the long-term transportation of Russian oil by the authorized organization of the Russian Federation, amounting to 10 mn tons per year, and grant it the right to access the main pipeline system along the transportation route "Russian Federation border - Republic of Kazakhstan border (main oil pipeline "Tuymazy - Omsk - Novosibirsk - 2") - RK border and RF border Novosibirsk-2" (main oil pipeline "Tuymazy Omsk - RF border and RK border - (Priirtysh) - Atasu (RK - Alashankou (China)").
The oil transportation cost is set at $2.1 per ton for the entire duration of the agreement and is paid in tenge based on the exchange rate established by the National Bank of the Republic of Kazakhstan at the time of payment.
The document also specifies that the Kazakhstani side levies a zero-rated value-added tax on oil transportation services along the transportation routes (including any of its sections).
The agreement is valid until January 1, 2034.
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