CPC exports 8 528 million tons of oil in Q1 2011

In January – March 2011, the Caspian Pipeline Consortium exported 8 528 million tons of crude from its oil terminal based in Novorossisk, which is close to the 2010 indicator (8 529 million tons), RIA NOVOSTI reports, citing the consortium. In March alone exports made up 2 866 million tons of oil, 1.24% up against the like period of 2010. In 2010 exports via the CPC grew by 0.87%, reaching 34.9 million tons. CPC is the largest route for Caspian oil to global markets. The 1500-km pipeline links oilfields in the West of Kazakhstan to the Russian Black Sea. In Krasnodar region (Russia) Caspian oil is joined by Russian oil. CPC is implementing a project to expand the pipe’s capacities to 67 million tons. The project is expected to be operational by 2014. The ownership structure looks as follows: Russia (Transneft) - 31%, Kazakhstan (KazMunaiGaz - 19% and Kazakhstan Pipeline Ventures LLC - 20,75%), Chevron Caspian Piipeline 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 H.A. H.V. S.ar.l. - 2%, Oryx Caspian Pipeline LLC - 1,75%. 2010 oil and condensed gas production in Kazakhstan stood at 79.7 million tons, 4.2% up against 2009. Major volumes of oil exports were sent through CPC (40,2%), Atyrau-Samara (21,5%), Atasu-Alashankow (14.2%).