On July 17, 1992, the Republic of Kazakhstan and Sultanate of Oman signed an agreement on establishment of Caspian Pipeline Consortium. In a month, the Russian Federation joined the agreement parties. In 1996, the project was joined by 8 private shareholders representing the interests of world’s major oil producer companies from seven countries.
Construction of the pipeline infrastructure began in 1999. The pipeline construction groundbreaking ceremony was held near Yuzhnaya Ozereevka on May 12, 1999. Pipeline linefilling with oil from Tengiz Fields, Kazakhstan, began in March 2001, and on October 13 of the same year CPC loaded the first tanker at its terminal located near Yuzhnaya Ozereevka.
In 2004, receipts of Russian oil in the CPC system began at Kropotkin PS, Krasnodar Krai, and by the middle of the same year CPC reached the full design capacity of the initial construction project, 28.2 MMTA.
In December 2009, the shareholders approved the plan of expanding the capacity of CPC trunk pipeline up to 67 MMTA, which included an array of organizational, technical, financial and commercial matters.
Nowadays, Caspian Pipeline Consortium is the most important oil transportation route in the Caspian – Black Sea Region.
Milestones of the Caspian Pipeline Consortium History