CPC to complete its Debottlenecking Program before the end of the year
Year-to-date, the Consortium has transported 29.5 mln tons, loading them on 272 tankers
On 16 June 2023, at the XXVI St.-Petersburg International Economic Forum (SPIEF-2023), Almasadam Satkaliyev, Minister of Energy, Industry and Trade of Kazakhstan, had a meeting with CPC General Director Nikolay Gorban.
The Consortium’s Head informed the Minister of CPC performance results in 2023 and on the Company’s near-term operation plans. The Debottlenecking Program (DBNP) will be fully completed before the end of the year; it has already brought the throughput capacity of Tengiz-Novorossiysk pipeline system to 82 million tons of crude oil, says CPC.
Year-to-date, the Consortium has transported 29.5 mln tons, loading them on 272 tankers, and the total for the year, as per the forecast, is expected at approximately 60-61 mln tons. Last year, CPC lifted 58.7 mln tons of crude oil for export.
Speaking about the prospects for the next three to four years, Nikolay Gorban emphasized that large-scale work was ahead to replace almost 400 kilometers of the line section of CPC crude pipeline. This will significantly increase the reliability and industrial safety of the international oil transportation Company's facilities.
In the course of the conversation, it was noted that CPC was an important component of the world energy security. The Consortium delivers about 80% of Kazakhstan’s export oil volumes to the world markets, being the safest, most logistically sound, and cost-effective route.
CPC Pipeline System is one of the major investment projects with foreign capital in energy sector in the CIS. The length of the Tengiz – Novorossiysk pipeline is 1,511 km. This route transports over two-thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including those in the Caspian Region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor weather conditions.
CPC Shareholders: Federal Agency for State Property Management represented by Transneft (trust management) – 24%, CPC Company – 7%, KazmunayGas – 19%, Kazakhstan Pipeline Ventures LLC – 1.75%, Chevron Caspian Pipeline Consortium Company – 15%, LUKARCO B.V. – 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited – 2%, Eni International N.A. N.V. S.ar.l. – 2% and Oryx Caspian Pipeline LLC – 1.75%
