A working meeting between Kanat Bozumbayev, Minister of Energy of the Republic of Kazakhstan, and CPC General Director Nikolay Gorban, was held in Astana on May 16, 2018. The Head of Kazakhstan energy industry made a point of high significance of the Consortium’s pipeline system to the major oil producing centers in the Republic. The parties discussed the implementation results of CPC Expansion Project and the further development of the “black gold” fields in teh Region and crude transportation routes. CPC General Director Nikolay Gorban pointed out that the Consortium possessed sufficient excess capacities to satisfy all Shippers’ nominations and, if necessary, and subject to a relevant Shareholders’ decision, CPC was ready to further develop the system.
As a reminder, in total, from 2001 through April 30, 2018, 541,572,655 tons of oil were delivered to the world markets by Tengiz-Novorossiysk crude pipeline system. 470,713,317 tons of that amount of crude oil come from Kazakhstani Shippers and 70,859,338 tons of “black gold” were produced in Russia.
About 75% of all crude oil resources exported from Kazakhstan is being transported via CPC crude pipeline.
FYI:
The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of Tengiz-Novorossiysk pipeline is 1,511 km; more than two thirds of all export crude oil from Kazakhstan and crude oil from the Russian fields, including those in the Caspian Region, are transported by this route. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor weather conditions.
CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by Kazmunaygaz – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%; 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%.