Azernews.Az

Ulviyya Poladova

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Kazakhstan has dismissed reports suggesting a complete shutdown of the Caspian Pipeline Consortium (CPC), AzerNEWS reports.

Asel Serikpayeva, spokesperson for Kazakhstan's Ministry of Energy, said media reports claiming that the consortium's operations could be fully suspended are not true.

The ministry noted that on July 31, the consortium temporarily suspended its operations. However, oil deliveries from shippers and the filling of storage facilities have continued without interruption.

According to the ministry, daily oil transportation volumes reached 100,000 tonnes starting on August 1. It added that further increases in shipment volumes will depend on the timely availability of tankers at the marine terminal for loading.

The Ministry of Energy stressed that it remains in constant contact with the Caspian Pipeline Consortium and cargo shippers, adding that the current situation is under control.

The Caspian Pipeline Consortium (CPC) is a major international oil transport project and pipeline system that moves crude oil from giant fields in Kazakhstan to a Russian port on the Black Sea. It carries about 1% of the world's oil supply and handles roughly 80% of Kazakhstan's oil exports.