Crude lifting down from CPC Marine Terminal

Crude lifting down from CPC Marine Terminal

BAKU, Azerbaijan, March 3

By Leman Zeynalova - Trend:

Caspian Pipeline Consortium (CPC) Marine Terminal lifted 4 875 548 gross tons (38 629 834 barrels) of crude oil in February 2020, Trend reports citing CPC.

This is while in January 2020, this figure stood at 5 611 202 gross tons (44 466 469 barrels) of crude oil.

The number of handled tankers was 46 in February, as compared to 53 in January.

“Out of the 4 875 548 tons lifted in February 2020, 2 385 647 tons of crude was from Tengiz field, 947 033 tons from Karachaganak field, 1 104 378 tons from Kashagan field and 123 952 tons from other Kazakhstani producers,” said CPC.

In February, the Kazakhstan`s producers shipped in total 4 561 010 tons of crude, as compared to 4 938 749 tons of crude in January, and 314 538 tons of lifted crude was received from the Russian territory.

“From 2001 through February 29, 2020, 656 336 631 net tons of crude oil were delivered to the world markets via the Tengiz-Novorossiysk crude pipeline system. 572 388 929 tons of that crude came from Kazakhstan and 83 947 702 tons of crude was produced in Russia. 6 174 tankers were handled during this period,” said the company.

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 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 percent and CPC Company – 7 percent) – 31 percent; Republic of 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.

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Follow the author on Twitter: @Lyaman_Zeyn

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