Lukoil`s Caspian oil to go through CPC
All of the oil produced by Russian energy giant Lukoil in the Caspian Sea will be transported through the Caspian Pipeline Consortium (CPC), Lukoil President Vagit Alekperov told Trend news agency.
Alekperov said relevant tenders have already been held, and an expanded pipeline system should be built through the territory of Russia.
``Oil will be transported through the CPC and gas through the Gazprom system. The connection points are already known,`` Alekperov said.
CPC is a major international crude oil transportation project involving Russia, Kazakhstan and leading international energy companies such as Chevron, Shell, ExxonMobil, Eni, British Gas, Rosneft and Lukoil. It was established for the construction and operation of a trunk pipeline more than 1,500 kilometers long.
The primary source of crude oil is prolific fields in western Kazakhstan, with additional crude from Russian producers. This oil is transported through the CPC pipeline to Lukoil`s Black Sea terminal where it is loaded onto tankers for further delivery to world markets.