Half-year volume of crude oil exports through the terminal of Caspian Pipeline Consortium (CPC) based near Novorossiysk decreased by 4.4% compared with H1, 2010, to 16,352,220 tons (128,020,467 barrels), the Consortium said.
In June, the Terminal handled 2,593,900 tons (20,402,174 brl), down 2.5% on last year’s figure.
CPC pipeline system is the largest investment project with foreign participation implemented in the CIS countries. The cost of the project’s Phase 1 is $2.6 billion. The total pipeline length, connecting oil deposits in western Kazakhstan to the Russian marine oil terminal is 1,510 km. The CPC pipeline system P1 was commissioned in April 2003. The volume of oil exports through the terminal in 2010 rose nearly 0.9% to 34,9 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%.