No restrictions on transporting oil via CPC after recent attack - Kazakh deputy energy minister
ASTANA. Dec 4 (Interfax) - There are no restrictions on oil transportation via the Caspian Pipeline Consortium (CPC) following the recent attack, Kazakh Deputy Energy Minister Yerlan Akbarov said.
"At the moment, transportation is proceeding in a stable manner. One mooring is working fully, and work is being done to connect the other one to the system. At the moment, there are no restrictions on transportation," Akbarov said at a briefing in parliament on Thursday.
He said that the situation was under special government monitoring and the sum of the damage was being calculated.
As reported, CPC's second single point mooring (SPM-2) at the Novorossiysk Sea Port was disabled by an attack involving unmanned surface vessels on November 29. The consortium links energy companies from Russia, Kazakhstan, the U.S. and Western Europe.
The 1,500-km CPC pipeline, which links oil fields in western Kazakhstan and Russian offshore fields in the Caspian Sea to a marine terminal in Novorossiysk, serves as the primary export route for Kazakh oil. It handles over 80% of the country's pipeline crude exports. The pipeline has a capacity to transport 72.5 million tonnes of crude from Kazakhstan and up to 83 million tonnes through Russia per year. The consortium shipped 63.01 million tonnes of oil through the system in 2024, with the expected transportation volume being around 72-74 million tonnes in 2025.
The shareholders of the CPC are the Russian government with a 31% stake, which is divided into 24% managed by Transneft and 7% on its balance sheet, Kazakhstan with a 20.75% stake, 19% of which is held by KazMunayGas and 1.75% by Kazakhstan Pipeline Ventures LLC, Chevron Caspian Pipeline Consortium Company with 15%, Lukoil International GmbH with 12.5%, Mobil Caspian Pipeline Company with 7.5%, Rosneft-Shell Caspian Ventures Limited with 7.5%, BG Overseas Holding Limited with 2%, Eni International N.A. N.V. with 2% and Oryx Caspian Pipeline LLC with 1.75%.
