ASTANA, Kazakhstan, January 18. The Caspian Pipeline Consortium plans to ship over 70 million tons of oil in 2024, said CPC General Director Nikolay Gorban, Trend reports.
"This year, the consortium plans to satisfy all volumes declared by shippers - this is more than 70 million tons for 2024," he said.
As Gorban noted, 2023 was a record year for oil transportation volumes in the entire history of the company - 63.5 million tons of oil, of which 56 million tons came from Kazakh shippers. The previous record was achieved in pre-pandemic 2019 - 63.3 million tons.
The CPC pipeline system is one of the largest investment projects in the energy sector with the participation of foreign capital in the CIS. It is unique in its own way, especially in the current political and economic situation in the region and the world.
The length of the Tengiz – Novorossiysk oil pipeline is 1,511 km. More than two-thirds of all Kazakh oil exports, as well as raw materials from Russian fields, including those located in the Caspian Sea, are transported along this route.
CPC shareholders include: Federal Agency for State Property Management represented by Transneft PJSC (trust management) - 24 percent, CPC Company - 7 percent, KazMunayGas - 19 percent, Kazakhstan Pipeline Ventures LLC - 1.75 percent, Chevron Caspian Pipeline Consortium Company – 15 percent, LUKARCOB.V. – 12.5 percent, Mobil Caspian Pipeline Company – 7.5 percent, Rosneft-Shell Caspian Ventures Limited – 7.5 percent, BG Overseas Holdings Limited – 2 percent, Eni International N.A. N.V. S.ar.l. – 2 percent and Oryx Caspian Pipeline LLC – 1.75 percent.