Caspian Pipeline Consortium
Companywww.cpc.ru
12
MENTIONS
10
EPISODES
10
PODCASTS
Search complete. 12 mentions across 10 episodes found for "Caspian Pipeline Consortium".
Sep 8, 2026
Peter ZeihanHOST
Uh, the Ukrainians had been attacking the, a p- place called Novorossiysk, which is a significant naval port and commerce port on the Black Sea, on the Russian section.
Peter ZeihanHOST
And at Novorossiysk is the terminus for a pipeline called CPC, the Caspian Pipeline Consortium, which transports crude from Kazakhstan, specifically, uh, the Tengiz field that is operated by Chevron and Exxon, through Russia to that port and then to the wider world.
Peter ZeihanHOST
And the Trump administration was angry that the Ukrainians were attacking, uh, what they see as American infrastructure.
Peter ZeihanHOST
Russians obviously don't see it that way.
DoombergGUEST
They tried to thread the needle.
DoombergGUEST
They still needed Russia, a pipeline out to the Black Sea, the CPC pipeline, which we wrote about.
DoombergGUEST
They kind of thread the needle.
DoombergGUEST
They respect Russia.
CornHOST
But pipeline politics with Russia remain a vulnerability.
CornHOST
Caspian Pipeline Consortium disruptions this summer forced production cuts.
CornHOST
Kazmune Gas reported first-half 2026 production of 12.4 million tons, down from 13 million the year before.
CornHOST
The economy is diversifying, but it's still tethered to hydrocarbons.
Brandon BeyloHOST
[laughs]
Gavin McCrackenGUEST
Right? Like, like it'd be insane to have tankers going around Africa and Latin America, and Hormuz to be randomly, you know, disrupted, and like, you know, Ukrainians sinking Russian tankers, you know, every week, right? Like, like to the extent that Kaz- Kazakhstan is, you know, once a month shutting in production and, and closing their, uh, their CPC pipeline terminal, right? That, that...
Gavin McCrackenGUEST
'Cause I, I think actually Ukraine blew up one of the, the loading docks, you know.
Gavin McCrackenGUEST
Um-
Rory JohnstonHOST
So let me actually ask you on that.
Rory JohnstonHOST
So I think one of the things that was really interesting over this past month was, you know, over the summer, as you noted, Kazakh oil and the CPC terminal, the Caspian Pipeline Consortium terminal in particular, the gateway of 80 plus percent of Kazakh exports, but it's on Russia's Black Sea coast, kept getting either itself was being hit or tankers loading they were being hit or tankers approaching they were being hit, kept disrupting this activity.
Rory JohnstonHOST
reportedly, according to Financial Times reporting, J.D. Vance, U.S. Vice President, actually directly appealed to Ukrainian President Zelensky saying like, We get that you're heading Russia, but leave the CPC terminal alone.
Rory JohnstonHOST
Leave Kazakh oil alone.
Lois ZabrockyGUEST
you know, on various routes.
Greg MillerHOST
One more question on the safety issue, because this is sort of a gray area, but CPC pipeline crude in the Black Sea or anything sort of non-Russian crude or products in the Black Sea? I mean, where are you standing right now with the Black Sea?
Lois ZabrockyGUEST
So, yeah, the Kazakhstan crude that comes out of the Black Sea, even though it loads at Novorossiysk and we have a not since the war started in 2022 loaded in a Russian port, we would look at that differently because that is not Russian crude.
Lois ZabrockyGUEST
It's Kazakhstani crude.
Lois ZabrockyGUEST
The answer is yes.
Lois ZabrockyGUEST
And, you know, the traders are, you know, we have good relationships with all of our customers.
Lois ZabrockyGUEST
And, you know, Chevron and Exxon Shell, they all want to load at CPC, right? So there's a very thorough conversation around and clauses of what we will do and when we will and won't do that.
Lois ZabrockyGUEST
Now, if you're caught flat footed and something, you know, fresh conflict arises and perhaps it wasn't contemplated in the charter party, the master is still going to be respected in.
Bruce PannierHOST
Obviously, Kazakhstan i- is, like, one of the main recipients of the ripple effects from that war.
Bruce PannierHOST
We've seen not only oil shipments stopped in the Caspian, that certainly hurt Kazakhstan, but facilities that are associated with the Caspian Pipeline Consortium coming out of Kazakhstan hit.
Bruce PannierHOST
So it's not surprising that Tokayev finally mentioned this.
Bruce PannierHOST
The, the most interesting thing for me is how much of this is coordinated.
Dominic NichollsHOST
This is the tanker Skyros.
Dominic NichollsHOST
Uh, it was attacked in the Black Sea after loading Russian origin oil at the Caspian Pipeline Consortium terminal, the CPC terminal.
Dominic NichollsHOST
This is in Novorossiysk.
Dominic NichollsHOST
There were no injuries, but I raise it because-
Francis DearnleyHOST
What's left of Novorossiysk.
Dominic NichollsHOST
Well, yes, but you'll remember.
Dominic NichollsHOST
So the CPC, the Caspian Pipeline Consortium terminal, that was the area that JD Vance specifically asked/requested/told-
Francis DearnleyHOST
Yes