Crude exports via offshore CPC Terminal rise 2.3% to 25.59 million tonnes in seven months

Shipments of crude oil exported through Novorossiysk port based Caspian Pipeline Consortium's Marine Terminal (CPC Terminal) between January and July rose 2.3% (YoY), to 25,59 million tonnes, CPC said.

In July, crude oil exports through the facility increased by 5.5% to 3.76 million tonnes.

The CPC Pipeline System is one of the largest investment projects on the CIS territory in energy sector with participation of foreign investors. The total length of the pipeline transporting crude oil from the fields in Western Kazakhstan to the marine terminal near Novorossiysk reaches 1,511 km. CPC Marine Terminal is equipped with offshore single point moorings enabling safe transshipment of the cargo to oil tankers. The terminal is able to operate in adverse weather conditions.

CPC shareholders are as follows: Russian Federation (represented by Transneft, 24% and CPC Company, 7 %) holds a 31% stake; Republic of Kazakhstan (represented by KazMunayGaz, 19% and Kazakhstan Pipeline Ventures LLC, 1.75%) owns 20.75% of shares; Chevron Caspian Pipeline Consortium Company owns 15%, LUKARCO B.V. – 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited – 2%, Eni International N.A. N.V. - 2% and Oryx Caspian Pipeline LLC – 1.75%.