By Abdul Kerimkhanov
Caspian Pipeline Consortium (CPC), a consortium and a pipeline to transport oil from Kazakhstan's Tengiz field, is of great importance for the development of major oil fields in the Caspian region.
In January-April 2019, CPC exported 20.3 million tons of oil, which is 1.45 percent more than in the same period of 2018 (20 million tons), CPC informed.
In April 2019, the volume of oil exports amounted to 4.13 million tons compared to 5.07 million tons in the same month of 2018.
Volume of export oil shipments by the Caspian Pipeline Consortium amounted to 61.08 million tons in 2018, which is 10.8 percent more than in 2017 (55.11 million tons).
As many as 54.3 million tons of all the oil shipped by CPC in 2018 from the sea terminal in the Novorossiysk port was oil from Kazakh fields.
The largest volumes of oil in 2018 came from the Tengiz (28.7 million tons), Kashagan (13.2 million tons) and Karachaganak (10.3 million tons) fields. More than two thirds of Kazakhstan’s total export oil is transported via CPC.
The Caspian Pipeline Consortium is the largest international oil transportation project with the participation of Russia, Kazakhstan and world leading producer companies, which was established for construction and operation of the trunk oil pipeline which is more than 1,500 km long.
The CPC pipeline system mainly collects crude oil from large oil fields of West Kazakhstan, as well as crude oil from Russian producers.
Caspian Pipeline Consortium loaded the first tanker at the Marine Terminal on October 13, 2001. Since 2001 until November 30, 2018, about 577 million tons of crude oil was shipped for export and over 5,400 tankers left the single buoy moorings.
CPC shareholders are Russia - 24 percent, KazMunaiGas JSC - 19 percent, Chevron Caspian Pipeline Consortium Company - 15 percent, Lukarco B.V. - 12.5 percent, Mobil Caspian Pipeline Company - 7.5 percent, Rosneft-Shell Caspian Ventures Limited - 7.5 percent, CPC Company - 7 percent, BG Overseas Holding Limited - 2 percent, Eni International - 2 percent, Kazakhstan Pipeline Ventures LLC - 1.75 percent, and Oryx Caspian Pipeline LLC - 1.75 percent.
Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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