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KMG Exports First Batch of Oil to Hungary via Croatia

As part of the strategic expansion of cooperation between JSC NC “KazMunayGas” (KMG) and MOL Group (Hungary), the first batch of Kazakh oil in the volume of 85,000 tonnes has been delivered to a Hungarian oil refinery.

Maritime transportation from the port of Novorossiysk to the Croatian port of Omišalj was carried out by the national carrier Kazmortransflot (a subsidiary of KMG) using its tanker Alatau.

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

Following the tanker’s arrival in Croatia, a meeting was held between representatives of KMG, MOL Group, and JANAF. The parties discussed prospects for further mutually beneficial cooperation. As a result of the negotiations, a framework agreement on future oil supplies was signed between KMG and MOL Group.

This initiative will allow Kazakhstan to significantly expand the geography of KMG oil exports to the markets of the European Union.

For reference:

MOL Group is an international oil and gas company headquartered in Budapest. It operates in more than 30 countries worldwide and manages three oil refineries and two petrochemical plants in Hungary, Slovakia, and Croatia. MOL Group has 85 years of experience in hydrocarbon exploration and production. KazMunayGas and MOL Group jointly develop the Rozhkovskoye gas condensate field in the West Kazakhstan Region.

JANAF is the operator of Croatia’s oil pipeline system. The company manages an oil terminal on the island of Krk and the Adria oil pipeline system across Croatia.