Caspian Pipeline Consortium increases oil export
Baku, Azerbaijan, Oct. 3
The Caspian Pipeline Consortium (CPC) exported 44.8 million tons of oil in January-September 2018, which is 11.44 percent more than in the same period of 2017, the CPC report reads.
In September 2018, oil exports of the consortium amounted to 4.6 million tons compared to 4.1 million tons in September 2017.
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.
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).