Chief Executive Officer of Kazakhstan's national oil and gas company KazMunayGas (KMG), Askhat Khasenov, met with Nikolay Tokarev, President of Russian oil pipeline operator Transneft, in Moscow to discuss cooperation in oil transportation and transit, the KMG press service said.

"The prospects for cooperation in oil transportation and transit were discussed. The KMG chief executive highlighted the strategic importance of the Caspian Pipeline Consortium, Atyrau-Samara and Makhachkala-Novorossiysk routes, which play a significant role in exporting Kazakh hydrocarbons. These routes have demonstrated their reliability, efficiency and economic feasibility over their long period of operation," the press service said, The Caspian Post reports.

At the conclusion of the meeting, the parties confirmed their readiness to develop mutually beneficial partnerships in key areas to strengthen the transit potential of Kazakhstan and Russia.