CPC Pipeline System achieves milestone throughput of 60 million tons
Baku, Azerbaijan, Dec.29
By Leman Zeynalova – Trend:
On December 28, 2018 the 60-millionth ton of oil since the beginning of 2018 was lifted at the CPC Marine Terminal, Trend reports citing a message on CPC’s website.
This is a new annual record for CPC. For reference: in 2017, 55.1 million tons were exported through the Tengiz - Novorossiysk Pipeline System and 44.3 million tons in 2016.
The milestone 60-millionth ton of 2018 was loaded in the tans of MT ARGEAN MYTH chartered by SHELL KAZAKHSTAN DEVELOPMENT BV that left SPM-1 at 10:30 Moscow time for the Turkish Straits. Several tankers are scheduled for the remainder of the year.
Approximately 53 million tons out of the 60 million tons loaded by the morning of December 28 were injected in the system by the shippers from Kazakhstan and nearly 7 million tons - from Russia.
CPC Pipeline System is one of the major investment projects in energy sector with participation of foreign capital in the CIS. The length of the Tengiz–Novorossiysk pipeline is 1,511 kilometers; 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 percent and CPC Company – 7 percent) – 31 percent; Kazakhstan (represented by Kazmunaygaz – 19 percent and Kazakhstan Pipeline Ventures LLC – 1.75 percent) – 20.75 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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