Azernews.Az

By Abdul Kerimkhanov

Caspian Pipeline Consortium (CPC) is the largest international oil transportation project with the participation of Russia, Kazakhstan and world's leading producer companies, which was established for construction and operation of the trunk oil pipeline more than 1,500 km long.

CPC oil pipeline enables shippers to transport crude oil to the world markets in the most reliable and cost efficient way as compared to alternative options.

In January-June 2019, CPC exported 30.5 million tons of oil, which is 0.6 percent more than in the same period of 2018 (30.3 million tons), the Consortium said in a message.

In June alone, the volume of oil exports totaled 5.67 million tons compared to 5.02 million tons last year.

It should be noted that CPC’s volume of shipments of oil for export in 2018 amounted to 61.1 million tons, which is 10.8 percent more than in 2017 (55.1 million tons).

The largest volumes of oil in 2018 were from Kazakhstan’s Tengiz field - 28.7 million tons, Kashagan - 13.2 million tons, and Karachaganak - 10.3 million tons. More than two-thirds of Kazakhstan’s total export oil is transported via CPC.

Caspian Pipeline Consortium loaded the first tanker 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.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

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