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    Kazakhstan

    Kazakhstan plans major boost in oil exports via Turkey's Ceyhan port to reduce dependence on Russia

    Kazakhstan plans major boost in oil exports via Turkey's Ceyhan port to reduce dependence on Russia

    Kazakhstan plans an increase in its crude oil exports through Turkey's Ceyhan port, Energy Minister Almasadam Satkaliyev announced on November 25, aiming to reduce its dependence on Russia for transportation. Currently, more than 80% of Kazakhstan’s oil exports are routed through Russian infrastructure, but the new plan could alter this balance substantially, Reuters reported.

    Photo: Currently, over 80% of Kazakhstan’s oil exports pass through Russian infrastructure
    Source: Reuters

     

    Kazakhstan is looking to raise its exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline, which runs through Azerbaijan, Georgia, and Turkey. Exports through this route could increase from 1.5mn metric tons annually to as much as 20mn metric tons, as the country ramps up production. However, Satkaliyev did not specify a timeline for this expansion.

    “There is interest in developing and gradually increasing the volume of Kazakh oil shipments in this direction, both from our side and from our Azerbaijani partners,” Satkaliyev told parliament.

    Currently, Kazakhstan exports oil through multiple channels. In 2024, the country expects to ship a total of 68.8mn tons of oil, with the majority—55.4mn tons—transported via the Caspian Pipeline Consortium (CPC) to Russia’s Novorossiisk port. Additionally, Kazakhstan plans to export 8.6mn tons via the Atyrau-Samara Pipeline, 3.6mn tons via the Caspian Sea, and 1.1mn tons by pipeline to China.

    The move to increase exports through the BTC pipeline reflects Kazakhstan’s goal to diversify its export routes and reduce reliance on Russia. In addition to increased exports, Kazakhstan is also working to boost its oil production. Although the country initially aimed for 90mn tons of oil production this year, revised figures now project 88.4mn metric tons due to maintenance at key oilfields and Kazakhstan’s commitment to OPEC+ output reductions.

    This would amount to approximately 1.82mn barrels per day, contributing over 1% of global oil supply. Looking ahead, Kazakhstan aims to surpass 100mn tons of oil production annually by 2026, further solidifying its position as a key player in global oil markets.

     

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    26.11.2024, 11:01   Comments (0)   2048
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    #Kazakhstan#Oil#Russia#Turkey#export#trade

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