The volume of crude oil transported through Azerbaijani pipelines from Kazakhstan could increase fivefold to 7 million tons per year, according to information provided by the press service of Azerbaijan’s state oil company, SOCAR, as reported by newshub.kz.
Zaur Gakhramanov, an advisor to the head of SOCAR, revealed that repair works on an oil terminal near Baku are expected to be completed by the summer of 2024, enabling the annual movement of 10 million tons of black gold. The full operation of this facility would raise the transit capacity of the republic to 20-25 million tons of raw materials.
Currently, over 90% of Kazakhstan’s oil is exported through the pipeline systems of Russia. To reduce dependence on Russia for hydrocarbon transportation, the authorities in Kazakhstan are exploring alternative routes.
In 2023, 1.4 million tons of crude oil were transported through Azerbaijan’s pipelines. SOCAR anticipates that this figure will increase to 1.8 million tons in 2024 and further to 2.2 million tons in 2025.
Source and Credit: dprom.kz
