Abu Dhabi logistics company expands its presence in the Caspian
Abu Dhabi-based AD Ports Group has signed an agreement with Kazakhstan regarding the Caspian Sea. AD Ports Group will establish a joint venture with “Kazmortransflot”, a subsidiary of the Kazakh state oil and gas company “KazMunayGas”, to provide offshore and shipping services to energy companies in the Caspian Sea. In addition, both sides signed an agreement to pool tanker resources.
The joint venture, which will consider investment, will offer support vessels, integrated offshore logistics and subsea solutions, and at a later stage, container loading, ro-ro (wheeled vehicle transportation) and crude oil transportation in the Caspian Sea and the Black Sea, a press release on the AD Ports Group website says.
The goal is to jointly transport 8-10 million tons of oil per year in the medium term.
The Caspian Sea region is one of the world's oldest oil-producing regions and is becoming an increasingly important source of global energy production.
The Caspian route is also part of the international North-South transport corridor as an alternative to the Suez Canal. This trade route runs from Russia to India and includes roads, railways and sea routes.
Turkmenistan is also discussing with the UAE the creation of a joint transport and logistics company. In September 2022, the Turkmen delegation held a meeting in Abu Dhabi with Director General of the Abu Dhabi Ports Group Mohammed Juma Al-Shamisi. Among the promising areas of interaction was the introduction of the UAE's best practices in port management and their digitalization. A proposal was made to create a joint venture, which would involve the Abu Dhabi Ports group and the private sector of Turkmenistan.
ORIENT news
