Crude exports through offshore CPC terminal in Novorossiysk rises 4% to 15,06 million tonnes

Crude oil shipments through the offshore terminal of the Caspian Pipeline Consortium (CPC) at the Russian southern port of Novorossiysk between January and April 2016 increased by 4% from a year earlier to 15.06 million tonnes, the CPC terminal operator said.
However, export of crude oil in April 2016 declined 10% compared to the same period in 2015 to 3.13 million tonnes.

CPC pipeline system is the largest investment project with foreign participation implemented in the CIS countries. The total pipeline length, connecting oil deposits in western Kazakhstan to the Russian marine oil terminal is 1,511 km. CPC Marine Terminal has offshore SPM systems to load tankers safely in adverse weather conditions at a considerable distance from the coast.

Russia is the major stockholder in the CPC Marine Terminal joint venture (through Transneft and CPC Company, 24% and 7%, accordingly) with a 31% stake. Kazakhstan (through KazMunaiGaz and Kazakhstan Pipeline Ventures LLC, 19%, 1.75%) holds a 20.75% stake; 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%.