Yerlan Akkenzhenov: Kazakhstan, Azerbaijan to sign strategic energy agreements

Astana and Baku will sign strategic energy agreements concerning the supply of Kazakh oil through Azerbaijan and the construction of a green cable (a trilateral project involving Azerbaijan, Kazakhstan, and Uzbekistan), Kazakh Energy Minister Yerlan Akkenzhenov told journalists on October 21, Report informs.

He noted that the documents will be signed today during the Azerbaijani President's state visit to Kazakhstan.

He explained that the agreement concerns increasing the transit volume of Kazakh oil through Azerbaijan via the Baku-Tbilisi-Ceyhan pipeline.

"Azerbaijan's existing infrastructure allows for increased Kazakh oil supplies. This is a matter of commercial negotiations between economic entities regarding the price (transit tariff), that is, if favorable economic conditions are available, comparable to those of other existing transport routes, meaning no less than the Atyrau-Samara pipeline, and if the price is better than the Caspian Pipeline Consortium (CPC) pipeline, even better," the minister added.

He noted that the use of the Baku-Supsa oil pipeline will be considered if oil production in Kazakhstan increases in the future.