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Caspian Pipeline Consortium increases daily oil export

09 july 2013, 18:42
0
CPC sea terminal. ©cpc.ru
CPC sea terminal. ©cpc.ru
CPC sea terminal. ©cpc.ru
CPC sea terminal. ©cpc.ru
CPC sea terminal. ©cpc.ru
CPC sea terminal. ©cpc.ru
The Caspian Pipeline Consortium (CPC) dispatched 15.9 million tons in Q1 2013, Tengrinews.kz reports citing Oilnews.kz. The consortium transports oil from Kazakhstan and Russia via its own sea terminal at the Black Sea.

According to CPC, oil dispatches by the consortium made 15.2 million tons in January-June 2012. 2.7 million tons of Kazakhstan and Russian oil were shipped off in June 2013 against 2.6 million tons in June 2012. In 2012 CPC dispatched 30.6 million tons via the terminal, which is 3.8 percent less than in 2011.

Starting from 2011, CPC shareholders have been implementing the expansion project to reach 67 million tons per year from the current 35 million tons. The project's cost is estimated at around $5.4 billion. The expansion will be completed in 2015.

In July 2013 the Consortium plans to increase the daily crude oil export from the Black Sea. This will be the peak value of the last two years, Bloomberg writes.

CPC will supply 2.89 million metric tons, while in June 2013 it supplied 2.699 million metric tons. This volume is equal to 724,490 barrels per day (versus 699,041 barrels in June).

The supplies program provides for 7 dispatches of 134-135 thousand tons each and 23 consignments of 85-93 thousand tons each. This is 2.757 million tons more than the target amount set forth in the previous version of the supplies program published on June 12.

The Consortium’s shareholders include Russia represented by Transneft and KTK Company (31 percent), Kazakhstan represented by KazMunaiGas (19 percent) and Kazakhstan Pipeline Ventures LLC (1.75 percent), 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 Oversease Holding Limited (2 percent), Eni International H.A. H.V. S.ar.l. (2 percent), Oryx Caspian Pipeline LLC (1.75 percent).

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