Kazakhstan oil to be transported to Azerbaijan on two newly acquired tankers

Two new tankers are used to transport Kazakh oil through the main export pipeline Baku-Tbilisi-Ceyhan.

Report informs citing the Kazakh media that the oil will be transported by Kazakh-Arab oil tankers.

According to the Samruk-Kazyna Fund, Caspian Integrated Maritime Solutions, a joint venture between Kazmortransflot (a subsidiary of KazMunayGas) and Abu Dhabi Ports (UAE), has purchased two tankers for 8,000 tons each. The purchase price is about $30 million.

They are planned to be delivered to the Caspian Sea in Q4, 2023.

The tankers will be involved in the transportation of Kazakh oil along the Aktau-Baku route. Last year, an agreement was signed with SOCAR on the transportation of 1.5 million tons of Kazakh oil per year through the Baku-Tbilisi-Ceyhan pipeline. Under this agreement, the Kazakh and Azerbaijani fleets will be used on a parity basis. Two new tankers are capable of transporting 50% of 1.5 million tons per year. Now they cover the shippers' current needs. The decision to purchase additional tankers will be made if new agreements are reached to increase the volume of oil transportation, as well as based on the schedule for the retirement of the existing fleet.