Baku, Azerbaijan, August 14
By Leman Zeynalova – Trend:
The Caspian Pipeline Consortium (CPC) marine terminal loaded a milestone half-billionth ton of crude oil, since the commencement of the oil pipeline system operation, onto the Ohio oil tanker chartered by Karachaganak Petroleum Operating on Aug.12, said the message on CPC’s website.
The Tengiz-Novorossiysk pipeline system was put into operation at the end of 2001.
From the beginning of 2017 through the end of July, over 31.7 million gross tons of crude oil were shipped, which is by 6.1 million tons more compared to the same period of 2016.
Currently, crude oil is supplied to the consortium pipeline system from more than ten oil fields.
In 2017, after commissioning of all Expansion facilities, the CPC trunk pipeline throughput will rise to 67 million tons of crude oil per annum.
CPC pipeline system is one of the largest investment projects in the energy industry with participation of foreign capital in the CIS. The length of the pipeline connecting oil fields in Western Kazakhstan with the Marine Terminal near Novorossiysk is 1,511 km.
CPC shareholders are Transneft (24 percent), KazMunaiGas (19 percent), Chevron (15 percent), LUKARCO (12.5 percent), Mobil Caspian Pipeline Company (7.5 percent), Rosneft Shell Caspian Ventures Ltd. (7.5 percent), CPC Company (7 percent), BG Overseas Holdings Limited (2 percent), Eni (2 percent), Kazakhstan Pipeline Ventures (1.75 percent) and Oryx Caspian Pipeline (1.75 percent).
---
Follow the author on Twitter: @Lyaman_Zeyn