Kazakhstan to launch its own tankers in Caspian, Black seas

By Kuban Abdymen

ASTANA: Kazakhstan is actively acquiring tankers to transport its oil through the Caspian and Black seas, Bloomberg reports citing the Kazakh oil and gas company “KazMunayGas.”

The mass acquisition of tankers is seen as a sign that the country, which is the largest oil producer in Central Asia, is trying to find an alternative to its main export pipeline through Russia, Bloomberg reports.

A subsidiary of “KazMunayGas” has already purchased two tankers with a deadweight of 8,000 tons each for oil transportation through the Caspian Sea.

According to the Deputy Minister of Energy of Kazakhstan, Erlan Akkenzhanov, they plan to purchase two more ships with a deadweight of 80,000 tons each for operations in the Black Sea.

“The Kazakh authorities are exploring alternative oil delivery routes. This is being done despite the fact that the Caspian Pipeline Consortium, which passes through Russian territory, remains the most profitable route for exporting oil from the country,” experts note.

Previously, it was reported that the leadership of the European Union Council decided to ease export restrictions on Russia to allow for the maintenance of the “Caspian Pipeline Consortium” (CPC) oil pipeline.

This is necessary to maintain the supply of Kazakh oil transported to the European Union through Russia.

It was also previously reported that power supply disruptions could lead to a reduction in oil production in Kazakhstan.