The Energy Ministry of Kazakhstan is searching for alternative oil export routes after oil loading at the Novorossiysk terminal was halted due to storm-related damages, the ministry said in a statement on Thursday.
Oil exports from Russia and Kazakhstan through the Caspian Pipeline Consortium (CPC) stopped on Wednesday after a storm, which reached 35 meters per second, damaged tanker loading facilities, causing over a one-month halt in terminal operations.
The 1,500-kilometer pipeline, which starts at the Tengiz field in Kazakhstan on the eastern shores of the Caspian, carries more than two-thirds of the country’s oil exports.
The pipeline carries around 1.2 million barrels per day of Kazakhstan's main crude grade and light sour CPC blend, accounting for 1.2% of global demand.
The ministry also said it would consult with the CPC on the timing of the resumption of operations at the marine terminal.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr