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Caspian oil and gas pipeline closures exacerbate energy woes

 Last Update: 2022-04-25
 Source: Internet
 Author: User

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On March 23, crude oil loading at the terminal of the Caspian oil and gas pipeline was halted as a rare storm damaged the loading berth at the port of Novorossiysk
.

Repair work on the Novorossiysk offshore facility may take 1.

Although Russia has been plagued by sanctions, exports from the Caspian oil and gas pipeline have not been interrupted since February 24
.

On the one hand, Russia's export pipeline oil has not been interrupted; on the other hand, Kazakhstan also exports crude oil through this pipeline

The closure of the Caspian Sea oil and gas pipeline for some reason has made the current global energy dilemma even worse
.

Market participants believe that the current Western sanctions against Russia have prevented the supply of 2 million to 3 million barrels per day of crude oil from entering the market.

Kazakhstan also has a tough time
.

Suspension of the Caspian oil pipeline will naturally have a negative impact on Kazakhstan's finances at this stage

One side cannot export, and the other side cannot import.

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