Oil exports via CPC terminal up 22.2% to over 16 mln t in Jan-May’14
In January-May 2014, oil exports via CPC Marine Terminal in Novorossiysk surged by 22.2%, year-on-year, to 16,070,529, CPC says.
In May, CPC exports increased by 12.3%, year-on-year to 2,799,220 t.
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 1,510 km.
Russia is CPC' major stockholder (through Transneft company) with a 31-percent stake, 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%.
