Photo: report.az
Kazakhstan to Raise Crude Oil Supply to Germany in 2026 | OilPrice.com
Kazakhstan plans to increase crude oil exports to Germany in 2026, following an extended supply agreement between KazMunayGas and Rosneft Deutschland for the Schwedt refinery.
- KazMunayGas, Kazakhstan's national oil and gas company, has extended a supply agreement with Rosneft Deutschland, facilitating increased crude oil exports to Germany starting in 2026.
- The crude oil will primarily supply the Schwedt refinery, Germany's fourth-largest, which has been under German trusteeship since 2022 due to sanctions against Russian oil.
- Kazakhstan's Karachaganak Field, a significant source of crude oil, is expected to contribute to the increased supply, highlighting the country's growing role in the European energy market.
Why It Matters
This development signifies a strategic shift in Europe's energy landscape, as Germany seeks to diversify its oil sources amid ongoing sanctions against Russia, enhancing Kazakhstan's role as a crucial energy partner.