Kazakhstan still assessing budget impact of Nov attacks on CPC infrastructure
ASTANA. Dec 15 (Interfax) - Kazakhstan is still assessing potential budget losses resulting from November attacks on infrastructure of the Caspian Pipeline Consortium (CPC), Energy Minister Yerlan Akkenzhenov said.
"An assessment of the losses is under way. The damage has not yet been fully determined, and further decisions will be made based on the results of this assessment," Akkenzhenov told a briefing on Monday.
On the morning of November 29, an attack involving unmanned surface vessels damaged Single Point Mooring No.2 (SPM-2), owned by Caspian Pipeline Consortium (CPC), at the port of Novorossiysk. CPC, which has Russian, Kazakh, and American shareholders, was forced to reduce exports due to the damage to SPM-2.
The Kazakh Energy Ministry said Kazakhstan would redirect oil exports via alternative routes. At the same time, the ministry noted that oil shipments through CPC were continuing without restrictions.
Kazakhstan's Foreign Ministry lodged a protest with Ukraine over what it described as another deliberate attack on CPC critical infrastructure.
On December 10, the Energy Ministry reported that Kazakhstan would reroute part of Kashagan crude flows to China.
It said Kazakhstan had lost 480,000 tonnes in oil output as a result of the attacks on the CPC infrastructure, but was determined to meet its 2025 target.
The CPC links oil fields in western Kazakhstan and Russian fields on the Caspian shelf to the maritime terminal in Novorossiysk. The route spans 1,511 kilometers and serves as the primary export channel for Kazakh oil, accounting for over 80% of the volumes pumped from Kazakhstan through the pipeline. The system has an annual capacity to transport approximately 72.5 million tonnes of oil from Kazakh territory and up to 83 million tonnes overall via Russia. In 2024, the consortium shipped 63.01 million tonnes through the system, with expected transportation volumes for 2025 projected to be around 72-74 million tonnes.
The shareholders of the CPC are: the Russian Federation (31%, comprised of 24% managed by Transneft and 7% on its balance sheet); Kazakhstan (20.75%, represented by KazMunayGas at 19% and Kazakhstan Pipeline Ventures LLC at 1.75%); Chevron Caspian Pipeline Consortium Company (15%); Lukoil International GmbH (12.5%); Mobil Caspian Pipeline Company (7.5%); Rosneft-Shell Caspian Ventures Limited (7.5%); BG Overseas Holding Limited (2%); Eni International N.A. N.V. (2%); and Oryx Caspian Pipeline LLC (1.75%).
