In January-July 2021, SOCAR Trading (trading “daughter” of SOCAR) purchased 71 thousand tons of Kazakh oil for supply to the world market via the Baku-Tbilisi-Ceyhan (BTC) pipeline, the Minister of Energy said Azerbaijan Parviz Shahbazov.
“There is a positive dynamic of bilateral trade in the energy sector. Crude oil and oil products of Kazakhstan are currently transported through the Caspian Sea and Azerbaijan to the Black Sea terminals. In 2020, SOCAR Trading SA purchased 106 thousand tons of crude oil of Kazakhstani origin for the purpose of supply via the BTC pipeline. For seven months of this year, this figure amounted to 71 thousand tons, “the minister said yesterday in Baku at a meeting of the Azerbaijan-Kazakhstan intergovernmental commission.
He also stressed that at present, Azerbaijan is taking comprehensive measures in the field of energy efficiency and increasing the share of renewable energy sources in the production and consumption of energy.
The minister noted that the possibility of cooperation with Kazakh companies interested in exchanging experience in this direction will be considered.
Shahbazov also said that for 7 months of 2021, trade between the two countries amounted to $ 62 million and there is great potential for increasing the volume of export-import operations in all areas of trade cooperation.
“Azerbaijan has 152 registered Kazakh enterprises operating in the spheres of industry, agriculture, trade, services, construction and transport. In 1995-2021, Azerbaijan invested $ 203.7 million in Kazakhstan, and Kazakhstan – $ 94.8 million,” said Shahbazov.
Following the meeting, the parties signed a Protocol.
At present, oil from the Azeri-Chirag-Guneshli block of fields and condensate from the Shah Deniz field, as well as oil from SOCAR are pumped through the BTC pipeline. Also, Turkmen oil, Kazakh and Russian oil is pumped through the BTC.
Caspian Barrel
