Shipments of exported crude oil from the terminal of Caspian Pipeline Consortium (CPC, near Novorossiysk) in January-September this year fell by 6.8% from a year earlier, to 24,267,391 tons, the Consortium statistics said.
In September, the terminal exported 2,519 million tons of the commodity, down 10.8% 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.
Russia is CPC' major stockholder (through Transneft company) with 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%.