(MENAFN- Trend News Agency) ASTANA, Kazakhstan, September 18. The Caspian
Pipeline Consortium (CPC) is ready to increase transportation
volumes to 83 million tons per year, the company told Trend .
The CPC pipeline system is one of the largest investment
projects in the energy sector with the participation of foreign
capital in the CIS. It is unique in its own way, especially in the
current political and economic situation in the region and the
world. The length of the Tengiz – Novorossiysk oil pipeline is
1,511 km. More than two-thirds of all Kazakh oil exports, as well
as raw materials from Russian fields, including those located in
the Caspian Sea, are transported along this route.
Light oil of the CPC Blend grade has 0.54 percent sulfur and API
density of 44.5. Shippers' interests are monitored by the company's
Petroleum Quality Bank. Initially, the CPC system was conceived for
deliveries mainly to the Mediterranean region, but for about 10
years now, supplies have gone far beyond its borders. CPC oil goes
to markets around the world, to refineries in different
Transportation of oil via the CPC oil pipeline and its loading
onto tankers from remote mooring facilities in the Novorossiysk
area began in 2001. In 2022, the total amount of oil shipped
exceeded 800 million tons; in May 2023, an 8,000-ton tanker was
filled with oil at the CPC Marine Terminal.
As the company said, taking into account shareholders' plans to
increase oil production in Western Kazakhstan, CPC has been
implementing a Debottlenecking Program (DBNP) since 2018 to
increase the throughput of the oil pipeline. The total budget of
the DBNP is more than $600 million. Currently, the main facilities
of the DBNP have been built and put into operation, thanks to which
the CPC has actually achieved readiness to transport oil in the
amount of up to 72.5 million tons per year through the territory of
Kazakhstan and up to 83 million tons per year through the territory
Thus, by the end of 2023, the Consortium plans to complete work
on the remaining DBNP facilities, in 2024 to begin replacing
pipeline sections in the Atyrau and Astrakhan regions, and in 2026
to replace two remote mooring devices at the Marine Terminal.
Speaking about operating results, the company said that, in the
first half of 2023, 32 million tons of oil were transported via the
Tengiz-Novorossiysk oil pipeline, which 3 percent more than the
same period in 2022. Previously, the company's management reported
that by the end of 2023, pumping in the amount of 61-62 million
tons of oil was forecast.
CPC shareholders include: Federal Agency for State Property
Management represented by Transneft PJSC (trust management) - 24
percent, CPC Company - 7 percent, KazMunayGas - 19 percent,
Kazakhstan Pipeline Ventures LLC - 1.75 percent, Chevron Caspian
Pipeline Consortium Company – 15 percent, LUKARCOB.V. – 12.5
percent, Mobil Caspian Pipeline Company – 7.5 percent,
Rosneft-Shell Caspian Ventures Limited – 7.5 percent, BG Overseas
Holdings Limited – 2 percent, Eni International N.A. N.V. S.ar.l. –
2 percent and Oryx Caspian Pipeline LLC – 1.75 percent.
As CPC said, in the current situation, communications with
shareholders from different countries are not a problem.
"An algorithm for making corporate decisions via secure
communication channels has been developed, face-to-face meetings
are held in countries where all shareholders can be present -
Kazakhstan, the UAE, Türkiye," the CPC said.