CPC terminal handles 13.1 mln t of export oil Jan-May’13 (up 4.4%, y-o-y)
In January-May, 2013, oil export via Novorossiysk-based marine terminal of Caspian Pipeline Consortium climbed 4.4%, year-on-year, to 13,147,517 mln t, CPC says. In May the terminal exported 2,799,220 tonnes of oil (+16.8%, year-on-year).
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 tonnes.
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%.
