Kazakhstan to divert Kashagan Oil to China after attack
Kazakhstan said on Wednesday it will redirect some oil from the Kashagan field to China following a Ukrainian drone attack on the Caspian Pipeline Consortium (CPC) terminal in the Baltic Sea.
The attack last month damaged a key single-point mooring (SPM) at the CPC terminal, which handles most Kashagan exports via Novorossiysk in Russia. Kazakhstan confirmed that exports have not fully stopped, but some oil will now be rerouted to China to maintain supply, News.Az reports, citing Reuters.
The CPC, which represents about 1% of global crude supply, includes Russian, Kazakh, and U.S. stakeholders. The Ukrainian strike on the terminal drew condemnation from Kazakhstan and the Kremlin due to its international significance.
Kashagan, one of the world’s largest oil discoveries in recent decades, is developed by a consortium including Eni, Shell, TotalEnergies, ExxonMobil, KazMunayGaz, Inpex, and CNPC. Kazakhstan’s energy ministry said it is working urgently with shippers to redistribute oil volumes and ensure continued exports.
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