News ID: 216363
Published: 0248 GMT June 08, 2018

Iran sanctions may affect Kazakh shipping company: Official

Iran sanctions may affect Kazakh shipping company: Official

The imposition of new sanctions on Iran may negatively affect cooperation between Kazakhstan's National Maritime Shipping Company Kazmortransflot LLP (KMTF) with Iranian companies, which in turn may affect the total volume of the company's cargo transportation in the Caspian Sea, a source in KMTF told Trend News Agency.

KMTF plans to launch swap operations in the direction of Iran to effectively achieve an increase in the share of export flow of Kazakh oil cargoes.

The list of positive factors affecting the company's activity, in turn, include the increase of oil production at the Kashagan field, as well as, the increase in the volume of Kazakh oil transportation to international markets via sea transport.

"Kazmortransflot has its own infrastructure in the ports of Aktau and Batumi, which is a convenient base for organizing the transportation of Kazakh oil to the world market. KMTF also participates in the project of the future expansion of Tengizchevroil project, increasing its role in the oil sector of Kazakhstan. The company plans to increase the number of vessels of the service fleet to participate in Kazakhstan's existing and prospective offshore oil projects in the medium and long term," the source said.

KMTF also contributes to strengthening the role of Kazakhstan as a transshipment base for international transport corridors, according to the source.

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