CPC Marine Terminal ships record volume of oil
Baku, Azerbaijan, Dec.4
By Nigar Guliyeva - Trend:
The Caspian Pipeline Consortium Marine Terminal shipped 5,001,341 gross tons (39,621,126 barrels) of crude oil in November 2017.
The Consortium reported that this is an all-time record for monthly loadings over the entire period of CPC operations.
The previous record was achieved in March, when 4,929,486 tons (38,990,365 barrels) were loaded onto tankers.
Since the beginning of 2017 to date 50 million gross tons of crude oil have been loaded at the Marine Terminal, of which 45 million tons have been received from Kazakh shippers, and around 5 million gross tons from Russian shippers.
The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of the Tengiz–Novorossiysk Pipeline is 1,511 km; it transports over two thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including the Caspian Region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor weather conditions.
CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by KazMunayGaz – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%; Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO B.V. - 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited - 2%, Eni International N.A. N.V. - 2% and Oryx Caspian Pipeline LLC – 1.75%.