ASTANA, Kazakhstan, April 9. The Caspian Pipeline Consortium (CPC) has suspended oil pumping for three days, Trend reports, citing the consortium.
"Since April 9, 2024, during a planned shutdown, CPC began carrying out maintenance work and connecting new equipment at the facilities of the Tengiz-Novorossiysk oil trunk pipeline," CPC said.
The consortium noted that such 72-hour stops of pumping through the oil pipeline occur at least twice a year; their schedule is agreed upon in advance with all shippers as well as with the Ministry of Energy of Kazakhstan.
According to the CPC, planned shutdowns are required to carry out those types of maintenance, repair, and connection of equipment that cannot be carried out on active equipment.
"Currently, oil shipments at the CPC Marine Terminal have also been stopped. Its resumption is planned for April 11, which will be announced later," CPC noted.
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 light of the current political and economic situation in the region and around 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, LUKARCO B.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.