Kazakhstan to earn over $1.7 billion on transit of Russian oil to China
The Majilis of the Parliament of the Republic of Kazakhstan at a plenary session on Wednesday adopted the law "On Ratification of the Protocol on Amendments to the Agreement between the Government of the Republic of Kazakhstan and the Government of the Russian Federation on Cooperation in the Field of Transportation of Russian Oil through the Territory of the Republic of Kazakhstan to the People's Republic of China dated December 24, 2013".
Kazakh Energy Minister Almasadam Satkaliyev told the deputies about the changes made to the 2013 agreement, El.kz reports citing the press service of the Ministry of Energy.
In particular, according to the minister, it is planned to update the volume of transit, tariffs and payment for oil transit, as well as to extend the agreement for a ten-year period until 2033 for the transit of Russian oil in the amount of 10 million tons annually. The tariff for pumping oil was approved at the level of 15 US dollars per ton.
"For the period from 2024 to 2033, the expected revenue for the transit of Russian oil through the territory of Kazakhstan to the PRC in both sections will amount to 1,710,000,000 US dollars," Almasadam Satkaliyev said, presenting the document to the deputies.
The law will be considered by the Senate of the Parliament of the Republic of Kazakhstan.
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