The volume of crude oil exports in January-July of this year through the terminal of Caspian Pipeline Consortium (CPC) based near Novorossiysk fell 5.6% from a year earlier, to 18 977 000 tons (146 989 900 brl), the Consortium said.
In July, the Terminal handled 2 624 900 tons (18 969 400 brl), down 12.6% 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.
In July, the Terminal handled 2 624 900 tons (18 969 400 brl), down 12.6% 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%.