BAKU, Azerbaijan, January 18. The volume of Kazakhstan's oil transportation through Baku-Tbilisi-Ceyhan (BTC) oil pipeline for 2024 has been agreed at the level of 1.5 million tons, a governmental source told Trend.
"Based on the agreements reached, the volume of transit of Kazakh oil through BTC in the current year should not exceed 1.5 million tons, as it was determined for 2023. This volume is considered optimal to maintain the high quality of BTC Blend oil, which is well known in the world and eagerly bought by refineries and traders operating in the Mediterranean region," the source said.
Kazakhstan transported 1.3 million tons through BTC in 2023, which is 5.5 times more than in 2022.
According to the source, SOCAR is negotiating with KazMunaiGas regarding the organization of Kazakhstan's oil transit in 2024 and the Baku-Supsa oil pipeline, which has been idle since spring 2022.
"Negotiations on financial, technical and legal aspects are underway. Kazakhstan is interested in transporting up to three million tons of oil per year through Baku-Supsa. The ongoing capacity of this oil pipeline, which has been operating since 1999, is five million tons of oil per year," the source added.
Meanwhile, Azerbaijan has stopped using this oil pipeline on the grounds of commercial impracticality, as traders are reluctant to enter the Black Sea due to the high cost of chartering ships and risks associated with the war in Ukraine.