Context: According to Russia, oil flows through the Caspian Pipeline Consortium were reduced by 30-40% recently after a Ukrainian drone attack on a pumping station.
About Caspian Pipeline Consortium (CPC)
- CPC was established in 1992 to transport crude oil from the Caspian Sea region to global markets.
- Pipeline Route:
- It starts from the Tengiz oil field, Kazakhstan & Ends at Novorossiysk, Russia (Black Sea port)
- Length: 1,500 km. & Capacity: Over 1.5 million barrels per day (bpd)
Key Features of CPC Pipeline
- It is one of the largest international oil transport projects involving both public and private sector entities.
- Main source of crude oil: Kazakhstan (Tengiz, Karachaganak, and Kashagan fields).
- Major Export Destination: Europe and other global markets.
Key Facts about CPC
- Length: Approximately 1,511 km (939 miles)
- Capacity: Over 1.4 million barrels per day after expansions
- Route: Starts in western Kazakhstan and runs through southern Russia to the Black Sea
- Ownership: A mix of public and private shareholders, including Kazakhstan, Russia, and major energy companies like Chevron and Lukoil
Significance
- Bypasses the Persian Gulf and Suez Canal, providing a strategic alternative for oil exports.
- Crucial for Kazakhstan’s economy, as over 80% of its oil exports flow through this pipeline.