Kazakhstan is considering the option of having to halt oil exports through the Black Sea.
As reported by Russian Interfax, this statement was made by the Deputy CEO of the state company "KazTransOil," Eric Sagiyev, noting that in this case, Kazakhstan will be forced to redirect fuel to Ust-Luga on the Baltic Sea.
"In the event of a deterioration of the situation in the Black Sea waters, the volumes that we transport to the port of Sheskharis (in Novorossiysk) will be redirected to the port of Ust-Luga," Sagiyev stated.
The Port of Novorossiysk is the largest oil terminal for Russia in the Black Sea. In early August 2023, a temporary ban on vessel movement in the waters of Novorossiysk was imposed, but the shipment of oil by the Caspian Pipeline Consortium (CPC) was not interrupted.
The CPC, responsible for transporting over 80% of all Kazakhstani oil exports, connects the Tengiz oil field in western Kazakhstan to a marine terminal on the Black Sea coast of the Russian Federation near Novorossiysk.
In late February to early March, Russian authorities announced plans to reduce oil production and maritime oil exports. In April, these plans purportedly began to be implemented, but the delivery statistics contradicted these statements.
Furthermore, Russian authorities classified data on oil and gas production. This could indicate both a record drop in production.
