KazTransOil aims to triple Russian oil transit to Uzbekistan in 2024, cuts 2023 target to 154,000 tonnes

ASTANA. Nov 30 (Interfax) - KazTransOil, Kazakhstan's national oil pipeline operator, is set to increase the transportation of Russian oil to Uzbekistan to 500,000 tonnes in 2024, a threefold rise from current levels.

"The company Sanoat Energetika Guruhi from Uzbekistan has placed a request with KazTransOil for the transportation of 500,000 tonnes of Russian oil to Uzbekistan in 2024, with an option to increase this to 1 million tonnes," Abay Beisembayev, the director of KazTransOil's transportation department, said during the Emitter's Day event hosted by the Kazakhstan Stock Exchange.

KazTransOil transported 104,000 tonnes of Russian oil to Uzbekistan from January to October 2023. "The expected transit volume through KazTransOil's trunk pipeline system to Uzbekistan is projected to be 154,000 tonnes for the year," according to the company.

KazTransOil in March initially planned to transport 250,000 tonnes of Russian oil to Uzbekistan in 2023. However, this target was revised down to 180,000 tonnes in August, resulting in a 14% reduction in the 2023 transit plan, compared to the current target of 154,000 tonnes.

The transportation of Russian oil through KazTransOil pipelines for Uzbekistan began in 2017, including 67,900 tonnes pumped in 2017 and 36,000 tonnes in 2018. There was no transportation of Russian oil through Kazakhstan to Uzbekistan in 2019-2022.

Effective from February 1, 2023, KazTransOil raised the tariff for transporting Russian-origin oil transiting through Kazakhstan to Uzbekistan from $25.12 to $27.9 per tonne, not including VAT.