The Batumi Port of Georgia will receive the first heavy tankers for the Kazmortransflot (KMTF) on December 9, Kazakhstan Today reports.
The purchase of tankers is being realized as part of the long-term strategy for development of KazMunayGaz, supported by the Samruk-Kazyna. The KMTF (a 100% subsidiary of KazMunayGaz) wants to increase oil shipments on the Caspian Seas.
KazMunayGaz is the Kazakh national operator for exploration, extraction, refinement and transport of hydro carbons. 100% of the company’s shares belong to the Samruk-Kazyna National Welfare Fund. 100% of shares of Kazmortransflot belong to the KazMunayGaz national holding. It has two subsidiaries, the Kazmortransflot Ltd. for international shipments with jurisdiction of the Isle of Man, and the Ship Repair Factory of the Mangistauskaya Region, founded by the Kyran Holding Ltd. (50%), Kazmortransflot (30%) and Balykshy (20%).
