Repairs at the Tengiz field and the shutdown of production at Kashagan in Kazakhstan caused a decrease in the volume of oil pumped by the Caspian Pipeline Consortium (CPC) through the Tengiz-Novorossiysk pipeline. Shareholders and shippers are aware of the situation and are constantly interacting on the matter, reports TASS with reference to the CPC message of 3 August.
The CPC pipeline system, 1,511 km long, connects Kazakhstan with a seaport near Novorossiysk. There, oil is loaded onto tankers to be sent further to world markets. The largest shareholders of CPC are Russia (31%) and Kazakhstan (20.75%).
Earlier, Profile wrote that in early July, the Primorsky District Court of Novorossiysk decided to suspend activities CPC for 30 days due to environmental violations identified by Rostransnadzor at production facilities. This happened after a major man-made accident at the CPC marine terminal near Novorossiysk. Oil pumping resumed only a month later.