Oil volumes via CPC’s terminal in Novorossiysk down 2.7%, 8.53m tons in Q1

Export crude oil volumes passing through South Ozereika-2, a terminal of Caspian Pipeline Consortium (CPC) in the first quarter 2010 dropped by 2.7% over the same period in 2009, to 8.53 million tons, Rosinvest reports citing the company’s statement. In March 2010, the company reduced oil transportation by 8%, to 2.831 million tons, compared with last year’s March.

CPC owns the only private pipeline on the territory of the former USSR. The CPC’s 1.580-km pipeline connects Kazakhstan's Tengiz field to the terminal for export oil near the port of Novorossiysk on the Black Sea. In 2009, the CTC has exported through the South Ozereika-2 terminal 34.574 million tons of oil, 9.9% up from 2008’s figures.

Russian Federation holds 38% stake in the Caspian Pipeline Consortium, through TransNeft (31%) and CPC Company (7%). Kazakhstan holds 19% through KazMunaiGas. Private companies hold the rest stocks, Chevron Caspian Pipeline Consortium Company - 15%, Lukarco BV (Lukoil) – 12.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, Mobil Caspian Pipeline Company – 7.5%, ENI International (NA) NV - 2%, BG Overseas Holding Limited - 2%, Kazakstan Pipeline Ventures LLC (owned by KMG) – 1.75%, and Oryx Caspian Pipeline LLC owns 1.75% of stocks.