The court in Krasnodar, Russia, has canceled the previous decision to stop the operation of the Caspian Pipeline Consortium (CPC), the Kommersant reported.
Now the company is obliged to pay a fee of $3,264.
On July 11, the Krasnodar district court reviewed an appeal by the CPC as the company has argued that the suspension of its operation would ruin the entire production cycle.
Earlier on July 5, the Primorsk district court in Novorossiysk suspended work of the CPC’s sea terminal in Novorossiysk for 30 days due to technical violations Roskomnadzor found there.
Right after that, the CPC lawyers sent the appeal to the court with a request to cancel the decision concerning the sea terminal.
On July 6, Prime Minister of Kazakhstan Alikhan Smailov discussed the situation with the cabinet members. The government tried to get a better understanding of what it should do to mitigate the negative effects of the suspension of work on the pipeline transporting Kazakhstani oil to the global market.
The next day, on July 7, President Kassym-Jomart Tokayev discussed the same topic with the cabinet members. The president has called for further diversification of oil export routes and now Kazakhstan’s authorities are going to find new ways to develop the transport and transit potential of the country. On the other hand, Dmitry Peskov, the official spokesperson for President Putin of Russia, said that the Kremlin doesn’t see any no politically-driven messages from Kazakhstan, which is going to use alternative export routes for its oil.
The 1,500-kilometer-long CPC is the biggest system for transporting crude oil from West Kazakhstan and the Caspian Sea into global markets through the Russian coast of the Black Sea. The pipeline capacity is about 67 million tons of oil per year. Among stakeholders of the CPC are Russia (31%), Kazakhstan (20.75%), Chevron Caspian Pipeline Consortium Company (15%), LUKARCO B.V. (12.5%), Mobil Caspian Pipeline Company (7.5%), Rosneft-Shell Caspian Ventures Limited (7.5%), BG Overseas Holding Limited (2%), Eni International N.A. N.V. (2%) and Oryx Caspian Pipeline LLC (1.75%). Next year the CPS is going to increase the volume of oil shipment to 80 million tons.
