Ukraine Steps Up Attacks on Russian Energy Assets in Caspian Sea

Article content(Bloomberg) — Ukraine has intensified attacks on Russia’s Caspian region, hitting energy production and refining assets, amid ongoing talks to clinch a peace deal.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentUkrainian drones hit Lukoil PJSC’s Korchagin oil platform in the Caspian Sea for the second time in recent days, according to a person familiar with the operation, who spoke on condition of anonymity. That’s fourth attack on Lukoil platforms in the Caspian Sea in the past week. Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentSeparately, Ukraine’s General Staff said that the nation’s forces hit a Gazprom PJSC’s gas processing facility in the Astrakhan region, close to the Caspian Sea.Article contentArticle contentBloomberg couldn’t independently verify the information and Lukoil and Gazprom didn’t immediately respond to requests for comments. Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentIntensified AttacksArticle contentKyiv has been intensifying attacks on Russia’s energy assets – from refineries to sea terminals and so-called shadow fleet tankers – seeking to reduce the revenue that helps Moscow fund its invasion. Russian forces have also been targeting energy infrastructure across its neighbor’s territory, with strikes leading to power blackouts across Ukraine. Article contentThe Korchagin field, which is Lukoil’s first project in the Caspian Sea, has a design production capacity of 1.2 million tons of oil per year, or the equivalent of about 24,000 barrels a day. The Filanovsky field, which is in the Russian section of the Caspian Sea and was attacked last week, has the capacity to produce 6 million tons a year. Article contentAs Lukoil pumped about 76.5 million tons of crude oil and condensate in Russia last year, it means that the two Caspian offshore fields accounted for less than 10% of the company’s total production in the country.Article contentTrending Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance The Federal Reserve’s rate cut was a clear signal to investors Investor Posthaste: Canada's provinces face 'deteriorating' outlook, says Fitch Ratings News Food prices rise at fastest pace in two years, though inflation rate holds steady Economy McKinsey plots thousands of layoffs in consulting slowdown Work Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance The Federal Reserve’s rate cut was a clear signal to investors Investor Posthaste: Canada's provinces face 'deteriorating' outlook, says Fitch Ratings News Food prices rise at fastest pace in two years, though inflation rate holds steady Economy McKinsey plots thousands of layoffs in consulting slowdown Work