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Caspian Consortium exports 22 million tons of oil

04 september 2013, 17:38
Photo courtesy of sdelanounas.ru
Photo courtesy of sdelanounas.ru
Major oil exporter from Kazakhstan and Russian, Caspian Pipeline Consortium (CPC), has exported 21.7 million tons of oil in January-August 2013, Oilnews.kz writes. CPC exported 20.2 million tons in the first three quarters of last year.

According to the Consortium, CPC dispatched 2.9 million tons in August 2013, while last year's August shipment was a little over 2.4 million tons of oil.

CPC is currently expanding its pipelines' carrying capacity. After the project is implemented the Consortium’s capacity will reach 67 million tons of oil (76 million tons of oil with antifrictional additives) per year starting from 2015. The project is estimated at $5.4 billion.

CTC shareholders include Russia (24 percent through TransNeft and 7 percent through CTC Company), Kazakhstan (19 percent through KazMunaiGas and 1.95 percent through Kazakhstan Pipeline Ventures LLC), Chevron Caspian Pipeline Consortium Company (15 percent), LUKARCO B.V. (12.5 percent), Mobil Caspian Pipeline Company (7.5 percent), Rosneft-Shell Caspian Ventures Limited (7.5 percent), BG Overseas Holding Limited (2 percent), Eni International N.A. N.V. (2 percent) and Oryx Caspian Pipeline LLC (1.75 percent).

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