Critical for Kazakhstan to pursue oil export options outside of Russia, investor says
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Kazakhstan’s ability to diversify its seaborne crude oil export routes away from Russian territory is critical to the country’s economy, the developer of an alternative port told CNBC.
“I believe it’s less political, more existential question, and we hope that also international community is going to support that initiative to have alternative routes in order to minimize the effects of any supply shortages,” Nurzhan Marabayev, CEO of Kazakh infrastructure investor Semurg Invest, told CNBC’s Dan Murphy and Hadley Gamble.
His company has been working to develop the Kuryk port on the eastern coast of the Caspian Sea — a project that includes a bulk cargo terminal, designed for the transshipment of oil, bulk oil cargo and liquefied petroleum gas.
Once complete, the port could provide an alternative to Kazakhstan’s main seaborne crude oil export route, which currently transports volumes across Russian territory via the 1,511-kilometer (939-mile) Caspian Pipeline Corporation’s pipeline, for later shipment from the CPC terminal near Russian port Novorossiysk.
Since Moscow’s full-scale invasion of Ukraine last year, concerns have mounted that Kazakhstan’s reliance on cooperation with Russia — with whom Kazakhstan shares a 7,644-kilometer (4,750 miles) border and a history of close political alignment — could endanger its oil supplies. Exports from the CPC terminal were intermittently disrupted in 2022, with Russia citing technical and regulatory issues. This included a delay in the port’s restart after storm damage, while Russian technical watchdog Rostekhnadzor carried out an unscheduled inspection, and a brief and unenforced Russian court ruling for CPC to halt exports for 30 days.
“Approximately 95% of oil is going through Russian territory, and we have seen some disturbance last year, and actually … it’s quite a threat to the Kazakhstan economy, because we are depending on the oil revenues,” Marabayev told CNBC on Wednesday.
Oil major ExxonMobil — which holds a 16.8% interest in the Kasahagan field and a 25% stake in the Tengizchevroil consortium that operates the Tengiz and Korolev fields — signaled similar concerns in a Feb. 22 securities filing.
“In the event that Russia takes countermeasures in response to existing sanctions related to its military actions in Ukraine, it is possible that the transportation of Kazakhstan oil through the CPC pipeline could be disrupted, curtailed, temporarily suspended, or otherwise restricted,” the company said, warning of a “loss in cash flows of uncertain duration” under such circumstances. ExxonMobil’s after-tax earnings linked to its Kazakh interests were roughly $2.5 billion in 2022.
Kazakhstan is the second largest producer of the non-OPEC contingent of the OPEC+ coalition and has typically aligned itself with Russia in the group’s petropolitics. Kazakh output slipped to 1.66 million barrels per day in January, according to the February issue of the International Energy Agency’s Oil Market Report.
The country has been studying potential alternative transport routes beyond Moscow’s borders, including the possibility of sending oil shipments via Azerbaijan’s Baku-Tbilisi-Ceyhan pipeline and through the incomplete Kuryk port project.
“Major infrastructure has been done, but still we need more support and attention to the port in order to fast-track the development of the private terminals,” Marabayev said. Development began in 2010, with operations starting six years ago.
U.S. outreach
Russia and Kazakhstan have historically observed a tight alliance, with Kazakh President Kassym-Jomart Tokayev last year calling on the Moscow-led Collective Security Treaty Organization to send paratroopers into Kazakh territory after nationwide protests erupted over fuel price increases.
But Russia’s war in Ukraine has stranded Kazakhstan in a precarious balancing act between Western powers and the Moscow administration of Vladimir Putin. Tokayev deepened engagement with Washington during the Tuesday visit of U.S. Secretary of State Antony Blinken, who repeatedly stressed that the U.S. backed Kazakhstan’s “territorial integrity.”
“Ever since being the first nation to recognize Kazakhstan in December of 1991, the United States has been firmly committed to the sovereignty, territorial integrity, and independence of Kazakhstan – and countries across the region,” Blinken said.
“In our discussions today, I reaffirmed the United States’ unwavering support for Kazakhstan, like all nations, to freely determine its future, especially as we mark one year since Russia launched its full-scale invasion of Ukraine in a failed attempt to deny its people that very freedom.”
Russian flows
The world’s third-largest oil producer, Russia has found its footing in the crude markets destabilized by EU and G-7 sanctions implemented against its seaborne exports of crude oil and oil products in December and February, respectively. Kazakh oil has been exempted from the measures despite transiting and exiting a port on Russian grounds.
The G-7 has put in place a scheme that allows Western providers to facilitate critical financial and shipping services to non-G-7 countries that purchase Russian volumes below a specific price. Moscow has repeatedly denounced this measure and threatened to deny its crude and oil products to those who observe such a price cap.
The withdrawal has pressured its production levels, which the IEA pegged down to 9.77 million barrels per day in January. Moscow announced it would reduce crude oil output by 500,000 barrels per day in March.
Russia has also been pushed farther into the Asia markets, now primarily relying on Chinese and Indian purchases:
“I think Russia, effectively, is an Asian nation by now. I think India and China will, for a long period, be the main buyers of Russia. It’s going to become the new norm,” Viktor Katona, lead crude analyst at Kpler, told CNBC’s “Squawk Box Europe.”
“I think that’s going to be the end result Russia out of Europe, Russia perennially into Asia, there’s going to be new links into those countries, and that’s pretty much it.”
Believe it or not, you can lease an EV for under $200 a month. New deals on models like the 2025 Hyundai IONIQ 5 and Kia EV6 are hard to pass up this month.
Electric vehicles have been all over the news lately, with the Trump administration threatening to end federal incentives and introducing new tariffs that are expected to lead to higher prices.
On the positive side, new EV models are arriving, giving buyers more options and driving prices down. Many automakers reported record US electric car sales in the first three months of 2024.
GM remained the number two seller of EVs behind Tesla after sales doubled in Q1 2025. With the new Equinox, Blazer, and Silverado EVs rolling out, Chevy is now the fastest-growing EV brand in the US. Ford’s Mustang Mach-E is off to its best sales start since launching, with over 11,600 models sold in the first quarter.
With the 2025 models rolling out and about 15 new EVs arriving this year, many automakers are introducing steep discounts to move vehicles off the lot.
EVs for lease for under $200 a month in April
Although the decade-old Nissan LEAF remains one of the most affordable this April at just $149 per month, there are a few EVs under $200 right now that are worth taking a look at.
The new 2025 Hyundai IONIQ might be the best EV deal this month, with leases as low as $199. Hyundai is currently promoting a 24-month lease deal with $3,999 due at signing.
Hyundai upgraded the electric SUV with a bigger battery for more range (now up to 318 miles), a sleek new look inside and out, and it now comes with an NACS port so you can charge it at Tesla Superchargers.
The offer is for the IONIQ 5 SE RWD Standard Range, which has a driving range of up to 245 miles. For just $229 a month, you can snag the SE RWD model, which has a range of up to 318 miles and a more powerful (225 horsepower) electric motor. It’s also a 24-month lease with $3,999 due at signing.
To sweeten the deal, Hyundai is offering a free ChargePoint Home Flex Level 2 EV charger with the purchase or lease of any 2024 or 2025 IONIQ 5. If you already have one, you can opt for a $400 public charging credit.
After slashing lease prices this month, the 2025 Nissan Ariya is actually cheaper than the LEAF in some regions. In Southern California, the 2025 Nissan Ariya Evolve AWD is listed at just $129 per month. The AWD model has a range of up to 272 miles.
The deal is for 36 months, with $4,409 due at signing. In April, Nissan cut Ariya lease prices to around $239 in most other parts of the country.
Kia has a few EVs available to lease for under $200 a month in April. The 2025 Kia Niro EV Wind is listed at just $129 for 24 months, with $3,999 due at signing. Kia’s crossover SUV has EPA-estimated range of 253 miles.
The 2024 EV6 may be worth considering at just $179 for 24 months ($3,999 due at signing). In California, the EV6 Light Long Range RWD is only slightly more than the Niro Wind.
In most other parts of the country, you can still find the EV6 for under $200 a month. The Light Long Range RWD trim offers up to 310 miles of EPA-estimated range.
| Lease Price | Term (months) |
Amount Due at Signing | Driving Range | |
| 2025 Hyundai IONIQ 5 SE RWD Standard Range | $199 | 24 | $3,999 | 245 miles |
| 2024 Kia EV6 Light Long Rang RWD | $179 | 24 | $3,999 | 310 miles |
| 2024 Kia Niro EV Wind | $129 | 24 | $3,999 | 253 miles |
| 2025 Nissan Ariya Evolve AWD | $129 | 36 | $4,409 | 272 miles |
| 2025 Nissan LEAF S FWD | $149 | 36 | $2,629 | 149 miles |
| 2024 Fiat 500 INSPI(RED) | $199 | 24 | $2,999 | 149 miles |
And don’t forget the 2024 Fiat 500e, which is now listed at just $199 for 24 months with $2,999 due at signing. The electric hatchback offers a range of up to 149 miles.
If you are looking to spend a little more, check out our list of EVs you can lease for under $300 a month.
Ready to snag the savings while they are still here? At under $200 a month, some of these EV lease deals are hard to pass up right now. Check out our links below to find deals in your area.
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![The US’s first solar panels over canals pilot is now online [video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/04/Project-Nexus-solar-canal.jpg?resize=1200,628&quality=82&strip=all&ssl=1)
Project Nexus, the first solar panel canopies over irrigation canals in the US, is now online in California, and there are plans to expand the project to other areas.
Project Nexus is a $20 million pilot in central California’s Turlock Irrigation District launched in October 2022. The project team is exploring solar over canal design, deployment, and co-benefits using canal infrastructure and the electrical grid.
India already has solar panels over canals, but Project Nexus is the first of its kind in the US.
The Turlock Irrigation District was the first irrigation district formed in California in 1887. It provides irrigation water to 4,700 growers who farm around 150,000 acres in the San Joaquin Valley.
Project Nexus will explore whether the solar panels reduce water evaporation as a result of midday shade and wind mitigation, create improvements to water quality through reduced vegetative growth, reduce canal maintenance as a result of reduced vegetative growth, and, of course, generate renewable electricity.
The California Department of Water Resources, utility company Turlock Irrigation District, Marin County, California-based water and energy project developer Solar AquaGrid, and The University of California, Merced, are partnering on the pilot. Project Nexus originated from a 2021 research project led by UC Merced alumna and project scientist Brandi McKuin.
Solar panels were installed at two sites over both wide- and narrow-span sections of Turlock Irrigation District canals in Stanislaus County, in various orientations. The sections range from 20 feet wide to 100 feet wide. University of California, Merced has positioned research equipment at both sites to collect baseline data so the researchers can decide where solar will work and where it won’t.
In February 2023, Project Nexus announced it would also deploy long-term iron flow battery storage in the form of two ESS 75kW turnkey “Energy Warehouse” batteries.
You can learn more about Project Nexus here:
Read more: In a US first, California will pilot solar-panel canopies over canals
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