Kazakh, Austrian FMs discuss safety of Kazakh oil supplies to Europe via CPC
ASTANA. Aug 14 (Interfax) - Kazakh Foreign Minister Yermek Kosherbayev and Austrian Federal Minister for European and International Affairs Beate Meinl-Reisinger discussed the security of Kazakh oil supplies to Europe, the Kazakh Foreign Ministry's press service said.
"The sides discussed the safety of international shipping and the stable supply of Kazakh oil to European markets in the context of the situation surrounding the Caspian Pipeline Consortium (CPC)," it said.
The parties agreed on the importance of ensuring the uninterrupted operation of this route, through which Austria receives a significant portion of oil from Kazakhstan, which accounts for around 56% of the country's crude oil imports.
As reported, the day before, the Kazakh foreign minister discussed the same issue with High Representative of the EU for Foreign Affairs and Security Policy and European Commission Vice President Kaja Kallas.
Previously, tankers in the waters of the CPC marine terminal were repeatedly attacked by drones, forcing the consortium to suspend oil shipments and Kazakhstan to reduce hydrocarbon production.
On August 12, the Financial Times, citing sources, reported that Ukraine had stopped attacking tankers using the CPC terminal in Novorossiysk following a request to that effect from U.S. Vice President JD Vance, who said U.S. corporations Chevron and ExxonMobil have stakes in the CPC.
CPC ships crude from three major Kazakh fields: Tengiz, Kashagan and Karachaganak. Throughput in 2025 totaled about 70.5 million tonnes, with more than 75% of that volume coming from foreign shippers, led by Tengizchevroil, ExxonMobil, KazMunayGas, Eni and Shell (SPB: RDS.A). The consortium expects to handle 72 million tonnes in 2026.
The 1,500-kilometer pipeline links oil fields in western Kazakhstan and Russian Caspian deposits to a marine terminal near Novorossiysk on the Black Sea. It is Kazakhstan's main export artery, carrying more than 80% of the country's pipeline crude. The system can move up to 72.5 million tonnes of oil per year from Kazakhstan and up to 83 million tonnes through Russia.
CPC shareholders are Russia, with a combined 31% stake managed by Transneft and held on its balance sheet; Kazakhstan, represented by KazMunayGas and Kazakhstan Pipeline Ventures LLC, with 20.75%; Chevron Caspian Pipeline Consortium Company with 15%; Lukoil International GmbH with 12.5%; Mobil Caspian Pipeline Company with 7.5%; Rosneft-Shell Caspian Ventures Limited with 7.5%; BG Overseas Holding Limited with 2%; Eni International N.A. N.V. with 2%; and Oryx Caspian Pipeline LLC with 1.75%.
