Baku: Azerbaijan’s President Ilham Aliyev has announced the signing of a general agreement for the transit of Kazakh oil, totaling 1.5 million tons per year, via the Aktau-Ceyhan route. This agreement has been reached between the State Oil Company of Azerbaijan Republic (SOCAR) and Kazakhstan’s national company, KazMunayGas, as reported by APA.

According to Azeri-Press News Agency, President Aliyev highlighted that a phased increase in transit volumes and a reduction in tariffs is planned from 2024. This initiative is expected to bolster transportation efficiency through the ports of Aktau and Alat. Additionally, infrastructure modernization and the renewal of rolling stock are underway to reinforce the Middle Corridor as a significant transit route linking Europe and Asia.

President Aliyev also pointed out the significance of industrial cooperation, with a notable focus on the shipbuilding industry. Furthermore, the development of green energy remains a crucial element on the bilateral agenda between Azerbaijan and Kazakhstan.