$88.1 million of capital investments approved for this year
Caspian Pipeline Consortium (CPC) forecasts that oil transportation by the pipeline system will total about 66 million tonnes this year. Last year, CPC transported and shipped for export 58.7 million tonnes of oil, 527 tankers were handled at the terminal. As CPC told IAA PortNews, these figures were announced by Kairgeldy Kabyldin, CPC-K Deputy General Director, Republic of Kazakhstan Government Relations, and Victor Miroshnichenko, Manager for Operation and Technical Maintenance, at the media conference in Atyrau on 5 April 2023.
Last year, Kazakhstan supplied 52.2 million tonnes to the CPC pipeline system.
Main works foreseen by the company’s Debottlenecking Programme were completed in December 2022. Some more works are to be conducted in 2023. Thanks to the project implementation CPC is ready for an increased number of consignors' requests but no increase has been seen so far.
The tank farm is under modernization at the Tengiz pump station. Two new tanks (VRFT-20000) are being built. Several years later, Tengiz PS will have six VRFT-20000 tanks allowing for transportation of larger volumes of oil from the Tengiz field.
Investments of CPC into modernization of its tank farm total $599.9 million including $156.4 invested by CPC-K and $443.5 million – by CPC-R. In 2022, investments in capital projects for key activities totaled $46.6 million. For 2023, $88.1 million of capital investments have been approved.
When speaking about the oil transportation tariffs, CPC representatives said that they had been approved with no revision planned.
CPC Pipeline System is one of the major investment projects with foreign capital in energy sector in the CIS. The length of the Tengiz – Novorossiysk pipeline is 1,511 km. This route transports over two-thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including those in the Caspian Region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor weather conditions.
CPC Shareholders: Federal Agency for State Property Management represented by Transneft (trust management) – 24%, CPC Company – 7%, KazmunayGas – 19%, Kazakhstan Pipeline Ventures LLC – 1.75%, Chevron Caspian Pipeline Consortium Company – 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. S.ar.l. – 2% and Oryx Caspian Pipeline LLC – 1.75%.