KazMunayGas extends contract for supply of Kazakh oil to Germany

Photo credit: Trend.az

KazMunayGas (Kazakhstan's national oil and gas company) has extended the current agreement for the supply of Kazakh oil (from Karachaganak Petroleum Operating Resources) to Germany (Schwedt refinery) until the end of 2024, Trend reports.

According to the KMG, the volume of oil transportation is 100,000 tons monthly.

To note, from January through April 2024, Transneft PJSC transported 420,000 tons of Kazakh oil through its trunk oil pipeline system to the Adamova Zastava oil delivery point for export to Germany.

This value is 330,000 tons, or more than four times more than in the same period last year.

At the same time, KazTransOil plans to transport 120,000 tons of Kazakh oil to Germany in May 2024. In addition, KazTransOil also plans to transport 993,000 tons of Kazakh oil to Germany in total in 2024.

Russian and Kazakh authorities inked a relevant agreement on June 7, 2002, and it governs the current transit.

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