The volume of oil exports through the Caspian Pipeline Consortium Terminal (CPC) in the vicinity of Novorossiysk grew in 2010 by almost 0.9% compared with 2009’s figure, to 34,9 million tons. Since the launch of the pipeline in October 2001 the CPC terminal has transshipped more than 245 million tons of crude oil, the CPC press release said.
In December 2010, a record monthly volume of crude oil, 3,2m tons (over 25m bbl), was loaded to tankers.
The final investment decision on the CPC pipeline expansion project was passed on December 15, 2010. This includes construction of 10 additional pump stations (2 - on the territory of the Republic of Kazakhstan, 8 - in the Russian Federation), 6 oil storage tanks near Novorossiysk and a third single-point mooring at the CPC Marine Terminal and replacement of an 88 km pipeline section in Kazakhstan. The construction is scheduled to begin this year’s spring.
The project worth $5,4bn is expected to boost the pipeline capacity more than twofold, to 67 million tons a year.
CPC is the owner of the Tengiz-Novorossiysk oil pipeline with total length of 1,511 km, which connects the oil province of the west of Kazakhstan to the Russian Black Sea coast. In 2009, the Consortium boosted crude exports by 9.9% to 34.574 million tons.
CPC’s shareholders include Russian Federation (through Transneft company) holds a 31-percent stake, Kazakhstan (represented by KazMunaiGaz - 19% and Kazakhstan Pipeline Ventures LLC –1.75%) owns 20.75% of shares, Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO BV – 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Ltd – 7.5%, BG Overseas Holding Limited - 2%, Eni International N.A. N.V. - 2%, Oryx Caspian Pipeline LLC – 1.75%.