BAKU, Azerbaijan, June 15. Caspian Pipeline Consortium (CPC) is poised to transport approximately 61 million tons of oil through its system in 2023, Nikolay Gorban, the company's CEO said on the sidelines of the St. Petersburg International Economic Forum, Trend reports.
"Although the initial plan was around 67 million tons this year, the current dynamics indicate a volume of approximately 61 million tons for the year," said Gorban. "Over the past five months, we have already shipped 29.5 million tons to the global markets," he added.
Gorban also highlighted the consortium's anticipation of receiving a significant supply of oil next year from the Tengiz oil field following the ongoing reconstruction and expansion efforts. "The main contributors to the additional oil supply will be the results of the reconstruction and work carried out at Tengiz. This is why we expanded our system," Gorban explained.
The Caspian Pipeline Consortium is a major international oil transportation project that involves Russia, Kazakhstan, and leading global oil producers. It was formed to construct and operate a long-distance trunk oil pipeline spanning over 1,500 km.