Kazakhstan intends to diversify oil exports in two directions

International Business News  –  Kazakh capital net news, Kazakh Energy Minister Bolat Akchulakov said at a government press conference that two routes are being considered to diversify oil exports.

By mid-2024, Kazakhstan’s oil production is expected to increase to 100 million tons, Bolat Akchulakov said. The issue of increasing transport capacity will have to be resolved by then. Currently, there are two main directions for solving the problem: eastward (China) and through the Caspian Sea, if Kazakhstan’s partners agree to buy large quantities of oil. It is also possible to supply Iran by sea. The ministry is in active discussions with Kazakh oil producers on diversifying oil export routes.

Earlier, President Tokayev said at a working meeting attended by government leaders, heads of relevant ministries, and the State Transportation and Transit Potential Development Corporation that the diversification of oil exports is an important task for Kazakhstan, and the priority direction is the trans-Caspian Sea. line. The President instructed Kazmunaygaz to work out the best implementation plans, including the feasibility of attracting investors in the Tengiz project, noting that the government should take measures to enhance the oil transport capacity of the Atyrau-Kenkiyak and Kenkiyac-Kumkol oil pipelines together with the Samruk-Kazyna Foundation.