CPC increased oil export by 22% in January
Almaty. February 2. KazTAG - The Caspian Pipeline Consortium (CPC) exported 3.57 mln tons of oil in January 2015, 22% up year on year, reports the message of the consortium.
Oil export made up 2.92 mln tons in January last year.
CPC was founded aiming to construct pipeline for Kazakhstani oil export transiting Russia. CPC owns Tengiz-Novorossiysk pipeline 1580 km long, which connects Kazakhstani Western oilfields with Russian Black Sea coast. Last year the volume of oil pumping through CPC reached 31.47 ml tons.
The project of CPC capacity expansion is planned to be held in 3 stages and it will let the sides expand the system capacity stage by stage. During the first stage the transportation volume is planned to be increased by 7-8 ml tons per year. The 1st stage is planned to be implemented by the mid of 2012. During the 2nd stage the pipeline capacity is to be expanded by the mid of 2013 to 48 ml tons. During the 3rd stage the capacity will be increased to 67 ml tons by 2014.
CPC shareholding includes Russia represented by Transneft owning 24% and CPC Company with 7%. Kazakhstan is represented by KazMunayGas with 19% stake and Kazakhstan Pipeline Ventures LLC with 1,75%. CPC is also owned by 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. - 2% and Oryx Caspian Pipeline LLC - 1,75%.