Kazakh Oil Supply Through BTC Expected to Reach 1.5 Million Tons in 2024
Almasadam Satkaliev, the Minister of Energy of Kazakhstan, recently met with his Azerbaijani counterpart, Parviz Shahbazov, to discuss bilateral energy cooperation. The meeting followed the 20th session of the Joint Intergovernmental Commission on Trade and Economic Cooperation between Kazakhstan and Azerbaijan.
The discussions revolved around various aspects of energy cooperation between the two nations, including the transit of Kazakh oil and the advancement of large-scale renewable energy projects. In November 2022, KazMunayGas (KMG) and SOCAR signed an agreement for the transit of oil along the Aktau-Baku-Tbilisi-Ceyhan route. By the end of 2023, oil shipments from Aktau to Baku-Tbilisi-Ceyhan totaled 1,057 thousand tons. For 2024, the plan is to increase the supply of Kazakh oil through the BTC pipeline to 1.5 million tons annually.
Minister Satkaliev emphasized the importance of increasing oil supplies in alignment with the growing production in Kazakhstan. Accordingly, national companies have been tasked with ramping up the volume of oil exports.
The ministers also discussed upcoming initiatives, including a project aimed at connecting the energy systems of the Caucasus region and Central Asia. This project involves laying a deep-sea cable along the bottom of the Caspian Sea, facilitating energy connectivity between the two regions.
