Kazakhstan Explores Alternatives to CPC

The president of Kazakhstan has called on his government today to diversify its oil supply routes to international markets after a Russian court ordered the CPC pipeline to be suspended for 30 days.

• So far there are no indications that flows from the CPC terminal have slowed backed by both terminal reports and vessel tracking. It is unclear when the suspension is intended to take place. The CPC has appealed the decision to the Russian courts.
• Kazakh President Kassym-Jomart Tokayev ordered a study into building a pipeline across the Caspian Sea in a bid to bypass Russia - an idea that has been touted in the past.
• The Russian court ordered the suspension of the pipeline this week, citing issues related to oil spills.
• The pipeline has faced numerous issues in recent month from storm damage delays to searches for mines in moves that have furthered pressured oil flow supplies to the west at a time when they are scrambling to move away from Russian oil. The pipeline is responsible for around 1% of the worlds oil supplies hitting the international markets.