Oil exports through CPC terminal up 5.6% to 7.7 mln t in Jan-March'13
In January-March 2013, oil exports through the marine terminal CPC in Novorossiysk increased by 5.6%, year-on-year, to 7,694,632 tonnes, CPC informs.
CPC pipeline system is the largest investment project with foreign participation implemented in the CIS countries. The cost of the project’s Phase 1 is $2.6 billion. The total pipeline length, connecting oil deposits in western Kazakhstan to the Russian marine oil terminal is 1,511 km. The first phase of CPC pipeline system was commissioned in April 2003. In 2012, shipments of crude oil from the terminal fell by 4.4% to 30.5 mln tons.
Russia is CPC's major stockholder with a 31-percent stake (through Transneft – 24% and CPC Company - 7%), Kazakhstan (represented by KazMunaiGaz - 19% and Kazakhstan Pipeline Ventures LLC –1.75%) owns 20.75% of shares, Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO BV – 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Ltd – 7.5%, BG Overseas Holding Limited - 2%, Eni International N.A. N.V. - 2%, Oryx Caspian Pipeline LLC – 1.75%.
