CPC shareholders are ready to repair pump station hit by Ukrainian attack

A two-day meeting of Caspian Pipeline Consortium (CPC) shareholders took place in Abu Dhabi, the United Arab Emirates, from Feb. 25 to Feb. 26, where they discussed the Ukrainian drone attack on the facility.

In the late hours of Feb. 17, a group of Ukrainian unmanned aerial vehicles (UAVs) attacked the Kropotkinskaya oil pump station, the largest facility within the CPC. Notably, around 80% of the oil transported through the pipeline comes from Kazakhstan.

Transneft, the Russian shareholder of the CPC, called this strike an act of terrorism, stating that such attacks are unacceptable.

CTC General Director Nikolai Gorban reported on damage suffered by the Kropotkinskaya oil pump station, the current condition of the equipment, the status of recovery work and the progress of contractor mobilization.

«The Consortium’s shareholders expressed readiness to support any matters related to repairs that would, as expected, take about two months,» CPC said in a press release published on its website.

Previously, Transneft reported that recovery work at the facility could potentially cause a 30% decline in Kazakhstani oil shipments. However, the Kazakhstani Ministry of Energy stated that there were no limitations on Kazakhstani oil deliveries due to the CPC and all processes are proceeding according to schedule.

Last week, Russian President Vladimir Putin suggested that foreign investors supply Russia with the equipment required for the pump station repairs, despite international sanctions. Later, he stated in an interview that the attack appeared to be a move coordinated with Europe. The Kazakhstani Foreign Ministry stated that it would discuss the incident with its Ukrainian counterparts.

The largest share of the CPC is controlled by Russia (24%). Other shareholders include KazMunayGas (19%), Chevron Caspian Pipeline Consortium Company (15%), Lukoil International GmbH (12.5%), Mobil Caspian Pipeline Company (7.5%), Rosneft-Shell Caspian Ventures Limited (7.5%), IC CPC Company (7%), BG Overseas Holdings Limited (2%), Eni International N.A. N.V. S.ar.l. (2%),  Kazakhstan Pipeline Ventures (1.75%) and Oryx Caspian Pipeline LLC (1.75%).

In 2024, the CPC Marine Terminal loaded 63 million tons of oil, while oil transportation generated $2.3 billion in revenue. The consortium paid out dividends totaling $1.3 billion. As of Feb. 23, 2025, the marine terminal lifted 9.8 million tons of CPC Blend oil onto 89 tankers.