Media: Kazakhstan has failed to arrange oil supplies bypassing Russia

“Izvestia” writes that Kazakhstan was unable to establish oil supply bypassing Russia in 2022

Kazakhstan could not find profitable alternative ways of oil supply bypassing Russia, Izvestia reports.

“The search for an alternative to the CPC (Caspian Pipeline Consortium) oil pipeline will take many years and require many billions of dollars in investments. It’s too long and expensive”, the publication said.

As an alternative for Kazakhstani exporters, countries such as Iran and China might be attractive, but this has its own drawbacks, according to the newspaper. Beijing actively buys black gold from Russia, because Moscow gives good discounts, and trade with Tehran can be established only if a breakthrough is achieved on the nuclear deal. Transporting oil through Azerbaijan would be another option, but it would be costly, the paper noted.

In November, Kazakhstan, Azerbaijan, Georgia and Turkey agreed on principles for the Trans-Caspian International Transport Route (TITM) over the next five years. The plan envisages increasing shipments of goods from Kazakhstan bypassing Russia to ten million tonnes per year.

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Media: Kazakhstan has failed to arrange oil supplies bypassing Russia