Baku, Nur-Sultan mull increasing Kazakh oil transit volumes via Azerbaijan
By Ayya Lmahamad
Baku and Nur-Sultan are considering to increase transit volumes of Kazakh hydrocarbon products through Azerbaijan.
The prospects of increasing transit volumes of Kazakh oil, oil products and liquefied gas through the territory of Azerbaijan were discussed at the second meeting of the Azerbaijan- Kazakhstan Working Groups.
During the meeting it was decided to conduct a joint technical and economic analysis in a short period of time in connection with increasing transit volumes of Kazakh hydrocarbon products through Azerbaijan by the experts of Azerbaijan and Kazakhstan.
The second meeting of the Working Groups on "Transit of Kazakhstan's oil and oil products through Azerbaijan", and on "Delivery and transport of liquefied natural gas from Kazakhstan through the Caspian Sea to Azerbaijan" was held in the format of videoconference with the co-chairmanship and Deputy Ministers of Energy of Azerbaijan Samir Valiyev and Kazakhstan Aset Magaouv.
Addressing the meeting, co-chairs noted the continuation of cooperation between the two countries in various areas of political and economic relations, including in the field of energy, despite the difficulties associated with the coronavirus pandemic.
The meeting was attended by representatives of the Ministries of Energy, Foreign Affairs, Economy, Transport, Communications and High Technologies, Emergency Situations, the State Border Service, the State Customs Committee, SOCAR, the Azerbaijan Railways CJSC, the Baku International Sea Trade Port cJSC, the Azerbaijan Caspian Shipping CJSC of Azerbaijan, and of the Ministry of Energy, Foreign Affairs, Industry and Infrastructure Development, Finance, the Aktau Sea Trade Port, Batumi Oil Terminal LLC, KazTransGas, KazTransOil, KazmOrtransflot and Petrotrans Limited companies took part.
It should be noted that the volume of foreign trade operation between two countries amounted to $64.7 million in 2020. Export of Azerbaijani products to Kazakhstan amounted to $16.5 million, while import of Kazakh products to Azerbaijan amounted to $48.2 million.
Presently, over 700 companies with Azerbaijani capital are registered in Kazakhstan, and about 60 companies with Kazakh capital are registered in Azerbaijan.
The main export products from Kazakhstan to Azerbaijan are mineral resources (oil and gas), chemical raw materials, grain, barley, tobacco products, carbon steel rolling, and electrical equipment. Azerbaijan exports petroleum products extracted from bituminous materials, ethylene polymers, components for machines and mechanisms, prefabricated buildings, etc. to Kazakhstan.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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