Kazakhstan and Emirates to create a joint fleet in the Caspian Sea
KazMunayGas (Kazakhstan) and Abu Dhabi Port (UAE) have signed a strategic partnership agreement. It cooperates in developing the marine fleet and coastal infrastructure in the Caspian and Black Seas.
The document was signed within the framework of the visit of the President of the Republic, Kassym-Jomart Tokayev, to the United Arab Emirates.
The parties will create a joint venture based on the Astana International Financial Center to provide marine services for oil and gas projects in the Caspian Sea.
Within the framework of the agreement, Kazakhstan and the UAE will create a merchant fleet to support offshore projects in the Caspian Sea (small-seated vessels of various types), as well as a tanker fleet with the development of alternative routes for the export of Kazakh oil (through the port of Aktau in the direction of Azerbaijan).
In addition, Kazakhstan and the Emirates will explore opportunities for the construction or acquisition of container ferries (transit from China to Europe along the Trans-Caspian route) and dry cargo vessels to participate in the transportation of goods on the North-South route (Russia-Iran).
The signed agreement on strategic partnership significantly contributes to the intensification of cooperation between the companies. As part of this agreement, a joint venture will be established. From this year, he will participate in investment projects in Kazakhstan. We think that we will effectively use the experience of Abu Dhabi Ports in the development of offshore oil and gas fields in Kazakhstan and the implementation of transport and logistics projects.
Magzum Myrzagaliyev, Chairman of the Board of JSC NC KazMunayGas
Abu Dhabi Ports Company (ADP)
Abu Dhabi Ports Company (ADP) is a port, industrial and logistics operator of the UAE, one of the largest holding companies in the region, whose portfolio includes large enterprises covering critical sectors of the diversified economy of the Arab monarchy in the Persian Gulf. ADP manages several clusters, including ports, industrial cities, free zones, shipping, logistics, and digital technologies.
Baku previously pointed out that modern geopolitical realities change the logistics map in Eurasian space and the directions of cargo flows. It was noted that the countries of Central Asia began to use the transit opportunities offered by Azerbaijan to ensure access to world markets.
Baku is trying to close the transit flows of strategic energy on itself, taking into account, as noted in Azerbaijan, a new geopolitical reality against the background of the ongoing armed conflict in Ukraine. Thus, Kazakhstan plans to use the Baku-Tbilisi-Ceyhan pipeline as an “alternative” route – bypassing transit through the Caspian Pipeline Consortium system (CPC, connects the fields in the west of Kazakhstan with the port of Novorossiysk).
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