Kazakhstan may halt Black Sea oil exports in the event of a deteriorating security situation
Then, the volumes currently transported to the Sheskharis port (in Novorossiysk) will be redirected to the Ust-Luga port
In the event of a worsening situation in the Black Sea, Kazakhstan is considering the redirection of oil, currently transported from the port of Novorossiysk to the port of Ust-Luga, as disclosed by the Deputy Director of KazTransOil for transportation, Erik Sagiyev.
"As for Novorossiysk, we're exploring options. If the Black Sea situation deteriorates, the volumes we're transporting to the Sheskharis port will be redirected to the Ust-Luga port. That is our plan," Sagiyev stated during KazTransOil investor day on KASE.
The KTK pipeline connects oil fields in western Kazakhstan and russian fields on the Caspian shelf to the sea terminal in Novorossiysk. It spans 1,511 km. The system is the main export route for Kazakhstani oil, accounting for over 80% of Kazakhstan's volumes piped. In 2022, the pipeline facilitated the transport and export of 58.7 million tonnes of oil, which is 3.3% less than in 2021.
Background. Mind previously reported that russia had claimed a drone attack on its naval base in Novorossiysk.
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