TAPS crude system shut after earthquake: Update

Adds ConocoPhillips comment

The Trans-Alaska Pipeline System (TAPS) was shut this morning as a precaution following an earthquake in southcentral Alaska.

TAPS, which transports Alaska North Slope (ANS) crude to the port of Valdez, was shut at 12:34pm ET, said operator Alyeska pipeline.

Crews have been dispatched to conduct surveillance and assess the system for possible damage. There are no known injuries or damages reported at this time, Alyeska said on its Twitter account. The pipeline system moved about 530,000 b/d yesterday.

The magnitude 7 earthquake occurred at 12:29pm ET about 7 miles (12km) north of Anchorage, Alaska, said the US Geological Survey.

A tsunami warning was temporarily placed into effect for the coastal areas of Cook Inlet and the Southern Kenai Peninsula but was later cancelled.

Marathon Petroleum's 63,000 b/d refinery in Kenai was not impacted, the company said.

ConocoPhillips, a major producer on the North Slope, said it is assessing operations, but does not believe there is any impact to assets. The company is also communicating with employees to confirm they are safe, a spokesman said today.