Kazakhstan ratifies protocol with Russia on cooperation in oil supply
By Abdul Kerimkhanov
Kazakhstan has been and remains a strategic partner of Russia in Central Asia. An important area of cooperation between Russia and Kazakhstan is the fuel and energy complex.
In conditions when the sale of hydrocarbons is one of the most serious sources of resources for the growth of the Kazakh economy, the question of the prospects of oil sales markets and its transportation routes is extremely important.
Kazakhstan in this matter adheres to a pragmatic policy - multi-vector export routes and maximum efficiency in the use of the pipeline system.
President of Kazakhstan Nursultan Nazarbayev has signed the cooperation agreement in the field of oil supplies with Russia, reports the press service of the head of state.
The protocol was signed in Moscow on October 3, 2018.
Earlier, The Minister of Energy of Kazakhstan Kanat Bozumbayev informed that the issues of regulating the import of petroleum products from Russia to Kazakhstan and the export of petroleum products from the territory of Kazakhstan beyond the customs territory of the Eurasian Economic Union (EAEU) will be brought to the interdepartmental level
This agreement implies a number of changes in the intergovernmental agreement with Russia on trade and economic cooperation in the supply of oil and oil products to Kazakhstan of December 9, 2010.
Noteworthy, the contract deals with the ban on re-export of Russian oil from the territories of Kazakhstan.
The introduction of these lists was a necessity for guaranteed deliveries of light petroleum products (gasoline, kerosene, diesel fuel) of Russian production to saturate the domestic market of Kazakhstan, as well as excluding re-export of the Russian product from the territory of Kazakhstan.
Now, after completing the modernization of Kazakhstan’s oil refineries, the parties have agreed to bring the lists of petroleum products to an interdepartmental level.
Changes to the agreement will contribute to the development of mobility when deciding on the opening (closing) of exports or imports of certain types of petroleum products, depending on the balance of the domestic market of fuel and lubricants in Kazakhstan.
Diplomatic relations between Kazakhstan and Russia were established on October 22, 1992.
The trade turnover of Kazakhstan and Russia amounted to $ 17.6 billion in 2018. This is 7.2 percent higher than the previous year.
According to the figures for January-November 2018, Russia ranks first in terms of imports to Kazakhstan. Russia's share among the countries supplying products to Kazakhstan is 37.3 percent.
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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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