Caspian Pipeline Consortium:
Russia said oil flows through the Caspian Pipeline Consortium (CPC), a major route for supplying Kazakhstan and exporting to the global market, were reduced by 30-40% recently after a Ukrainian drone attack on a pumping station.
- CPC is a $2.6 billion project consisting of a 935-mile crude oil pipeline that runs from the Tengiz oil field in Kazakhstan to the Russian Black Sea port of Novorossiysk.
- Construction on the CPC pipeline began in 1999.
- It was commissioned in 2001, and a $5.1 billion expansion project was completed in 2018.
- It is a key East-West pipeline that will carry oil from the Caspian Sea region to international markets.
- CPC includes the Russian and Kazakh governments, as well as Western energy majors – Chevron, ExxonMobil and Shell.
- This pipeline accounts for two-thirds of Kazakhstan’s oil exports.
- The pipeline’s total capacity is 1.4 million barrels per day of oil. This is 3 percent of global seaborne oil trade.
