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Kazakhstan and Germany Seek to Boost Crude Flows via Russia

OIL

Germany and Kazakhstan are cooperating to boost their bilateral trade in crude oil, according to Bloomberg.

  • Kazakhstan’s president Kassym-Jomart Tokayev and Germany’s Chancellor Olaf Scholz are scheduled to hold talks in Berlin about bilateral energy issues Sep. 28.
  • Following Russia’s invasion of Ukraine in Feb. 2022, finding crude for the in-land Schwedt refinery has been difficult as it previously took piped supplies exclusively from Russia.
  • A solution is to bring Kazakh crude through the same pipeline, albeit travelling a considerably further distance. There is already a deal for about 1.2m mtpa of oil delivered that pipeline.
  • The two countries signed a pact for shipments via Russia’s Druzhba oil pipeline in June, with the option of a year’s extension. Kazakhstan already signalled it will continue deliveries.

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