Baku, Azerbaijan, May 4
By Ali Mustafayev – Trend:
The Caspian Pipeline Consortium (CPC) exported 20.015 million tons of oil in January-April 2018, which is 12.96 percent more than in the same period of 2017, the CPC press service said in a message.
In April 2018, the volume of oil exports of CPC amounted to 5.068 million tons against 4.705 million tons in the corresponding month of the previous year.
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 pipeline connecting oil fields in Western Kazakhstan with the Marine Terminal in Novorossiysk is 1,511 km. CPC’s Marine Terminal is equipped with Single Point Moorings that allow to load tankers safely at a significant distance offshore.
In 2017 CPC exported 55.107 million tons of oil, which is 24.4 percent more than in 2016.
The shareholders of CPC are Russian Federation (31 percent, represented by Transneft – 24 percent and CPC Company – 7 percent), Republic of Kazakhstan (20.75 percent, represented by KazMunaiGas – 19 percent and Kazakhstan Pipeline Ventures LLC – 1.75 percent), Chevron Caspian Pipeline Consortium Company (15 percent), LUKARCO B.V. (12.5 percent), Mobil Caspian Pipeline Company (7.5 percent), Rosneft-Shell Caspian Ventures Limited (7.5 percent), BG Overseas Holding Limited (2 percent), Eni International N.A. N.V. (2 percent) and Oryx Caspian Pipeline LLC (1.75 percent).
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