Kazakhstan to Increase Oil Exports by Bypassing Russia by 13 Times
Photo: Elements.envato.com
Kazakhstan is revising its oil export strategy: the country plans to increase oil transportation via the Baku-Tbilisi-Ceyhan pipeline, Orda.kz reports.
Finimize reports that the Ministry of Energy of Kazakhstan is reviewing the logistics of export deliveries, which may significantly affect the market.
The volume of oil transportation via the Baku-Tbilisi-Ceyhan (BTC) pipeline will reportedly increase more than 13 times — from 1.5 million tons per year to 20 million tons at once.
The main goal is to diversify routes.
Kazakhstan's decision to increase exports via the BTC pipeline marks a notable geopolitical shift to diversify its oil sales routes. Currently, 80% of Kazakhstan's oil passes through Russia, posing a risk amid geopolitical tensions,writes Finimize.
BTC is an essential pipeline for Baku, whose key shareholders include Azerbaijan's state oil corporation SOCAR.
Transportation via this route will be more expensive than via Russia, but it could become a crucial alternative.
Kazakhstan’s strategy to utilize the BTC pipeline could transform oil market logistics in Central Asia. As global dependency on diversified supply routes increases, this move might lead investors to reconsider the dynamics of regional energy markets and associated geopolitical risks. With China's growing import appetite, watch for changes in global oil flows as the country takes on more energy capacity, Finimize emphasizes.
Kazakhstan's sharp "turn" toward Azerbaijan coincides with China's growing role, which is increasing its import quotas. For foreign investors, this situation may prompt them to reconsider their future plans.
Meanwhile, Kazakhstan has come under the microscope for allegedly failing to meet OPEC+ quotas. Gazprom and SOCAR's expanding cooperation is also noteworthy.
Original Author: Nikita Drobny
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