NUR-SULTAN – Kazakhstan’s oil and gas company KazMunayGas (KMG) is seeking to develop bilateral cooperation with Azerbaijani energy company SOCAR in the framework of Trans-Caspian infrastructure development. This was announced during the meeting between KMG Chairman of the Board Magzum Mirzagaliyev and SOCAR President Rovshan Najaf as part of Mirzagaliyev’s working trip to Baku in mid-August.
As one of the largest energy companies in Europe, SOCAR deals with the exploration of oil and gas deposits in the Caspian Sea.
On August 16, Mirzagaliyev also visited the Batumi Oil Terminal and the Batumi Seaport in Georgia. State-owned KazTransOil, a subsidiary of KMG, acquired the assets of Batumi Oil Terminal in 2008. The terminal has the right to manage Batumi Seaport by 2055. The benefit of Batumi Oil Terminal group of companies reached nearly 2.5 billion tenge (US$5 million) in 2021.
It is reported that the terminal is involved in the transshipment of oil and petroleum products, including cargo operations for tankers to companies from Kazakhstan, Azerbaijan, Turkmenistan, Georgia and other countries. The port provides transhipment, storage and warehousing services for dry bulk and general cargo, as well as maintenance of vessels and other vehicles.
Last March, Kazakh and Azerbaijani officials discussed the creation of the Trans-Caspian international transport route during the meeting of the Kazakh delegation led by the CEO of the sovereign wealth fund Samruk Kazyna Almassadam Satkaliyev with the Azerbaijani government in Baku. The geographical features of Azerbaijan and Kazakhstan and their location guarantee an efficient and well-established transport network between the countries.