Kazakhstan ready to increase Russian oil transit to China to 10mn tonnes a year

By bne IntelliNews May 31, 2016

Kazakhstan is ready to increase the transit of Russian oil to China by 3mn tonnes to 10mn tonnes a year, the general director of Kazakhstan’s oil pipeline monopoly, Nurtas Shmanov, told a news conference in Astana on May 30.

Falling oil output and weaker demand in China has led to a decline in Kazakh oil shipments. Kazakhstan ships oil via the Atasu-Alashankou oil pipeline. It transported 11.8mn tonnes of oil via the pipeline in 2015. Of the total, Kazakh oil stood at 4.8mn tonnes and the remaining 7mn tonnes were Russian oil. The plans to increase the pipeline’s capacity to 20mn tonnes has been put on hold until Chinese demand for oil picks up.

“Today, the volume transited from the Russian territory to China is 7mn tonnes in accordance with the intergovernmental agreement between Kazakhstan and Russia. We are ready to increase it. We can reach 10 million tons without any technical actions,” Shmanov said, according to AKIpress.

Kazakhstan's proposal comes just as Russia's President Vladimir Putin is arriving to Astana to participate in the meeting of the Eurasian Economic Union (EEU) Supree Council.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Turkey and Israel aim to ink natural gas pipeline deal by end-2017

Turkey’s Energy Minister Berat Albayrak, son-in-law of President Recep Tayyip Erdogan, is set to visit Israel by the end of this year to conclude an agreement to construct a natural gas pipeline ... more

Polish utility Tauron places €500mn eurobond issue

State-controlled Polish power firm Tauron has sold €500mn worth of eurobonds, the company said on July 5. Tauron needs capital to refinance the costs of construction and the purchasing of a ... more

Hungary signs deal to link to Russia's Turkish Stream gas pipeline

Budapest has signed a deal with Russia's Gazprom to link Hungary with the under-construction Turkish Stream ... more

Most Read

  1. Siemens considers quitting Russia
    8 days ago
  2. COMMENT: Gazprom’s exit from Turkey is a sign of the times
    8 days ago
  3. Nato still has a mixed reception in Emerging Europe
    8 days ago
  4. Wildfires hit Croatia and Montenegro’s Adriatic coast
    4 days ago
  5. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    2 days ago
  1. CHINA RISING: When sleeping giants meet
    11 days ago
  2. Belarus’ retail king Euroopt goes on the road
    16 days ago
  3. Moldova, Bulgaria, Poland, Albania and Latvia to lose more than 40% of their populations by 2100
    29 days ago
  4. STOLYPIN: Russia’s cyber-challenge cuts both ways
    19 days ago
  5. Siemens considers quitting Russia
    8 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss