Kazakhstan Extends Oil Supply Contract to Germany until End of Year
ASTANA — KazMunayGas (KMG), Kazakhstan’s national oil and gas company, has recently announced the extension of its agreement with Karachaganak Petroleum Operating for oil supply to an oil refinery in Schwedt, Germany. The agreement, which is now set to run until the end of 2024, stipulates a monthly transportation volume of 100,000 tons of oil.
From January to April of this year, Kazakhstan has already transported 420,000 tons of oil to Germany using the Atyrau-Samara oil pipeline, followed by the Druzhba pipeline. This route serves as the main artery for Kazakh oil exports to Germany, under the Kazakhstan ExportBlend Crude Oil (KEBCO) brand.
This extension of the agreement between KMG and Karachaganak Petroleum Operating highlights the continued cooperation between Kazakhstan and Germany in the realm of oil supply. It not only ensures a stable flow of oil to Germany but also strengthens the economic ties between the two countries.
