KMG exports first batch of oil to Hungary via Croatia

Sea transportation from the port of Novorossiysk to the Croatian port of Omisalj was provided by the national carrier Kazmortransflot (a subsidiary of KMG) on its tanker Alatau.

Further transportation from the port to the final destination, the Százhalombatta refinery in Hungary, will be carried out via the Adriatic oil pipeline, which is operated by the Croatian company Jadranski. naftovod (JANAF).

Upon the tanker's arrival in Croatia, a meeting was held between the representatives of KMG, MOL Group and JANAF. The parties discussed further mutually beneficial cooperation. Following the discussions, a Framework Agreement was signed between KMG and MOL Group on future oil deliveries.

It should be noted that this step enables Kazakhstan to significantly expand the geography of KMG's oil exports to the markets of the European Union.

MOL Group is an international, integrated oil, gas, petrochemicals and consumer retail company, headquartered in Budapest, Hungary. It operates in more than 30 countries, employing over 25,000 people. MOL Group operates three refineries and two petrochemical plants under integrated supply chain-management in Hungary, Slovakia and Croatia, and owns a network of almost 2400 service stations across 10 countries in Central & South-Eastern Europe. MOL’s exploration and production activities are supported by more than 85 years’ experience in the field of hydrocarbons and 30 years in the injection of CO2. MOL Group has been active in Kazakhstan for more than two decades. At the moment, there are production activities in 8 countries and exploration assets in 9 countries.

JANAF is the operator of Croatia's oil pipeline system. The company runs an oil terminal on the Krk island and the system of oil pipelines Adria on the Croatian territory.

Earlier it was reported that KazMunayGas and Turkish Petroleum Corporation inked an agreement on cooperation in geological exploration and hydrocarbon production.