The partial shutdown of the Caspian Pipeline Consortium (CPC) terminal in Novorossiysk, Russia, after a Nov. 29 attack by Ukrainian naval drones, highlights Kazakhstan’s ongoing export vulnerabilities. The terminal, which handles over 80% of Kazakhstan’s oil exports, now has its Offshore Mooring Terminal-3 (OMT-3) out of service, while OMT-2 has been under repair for two weeks.
Abzal Narymbetov, author of the Energy Analytics Telegram channel, wrote that the country is now likely operating only through OMT-1. He explained that this immediately creates risks for shipping and production.
Growing reliance on a single export corridor
Narymbetov argues...