Adverse weather conditions in the area of CPC Marine Terminal operation cause Caspian Pipeline Consortium to suspend oil lifting until weather conditions normalize and storm warnings are lifted.
Oil receipt from Shippers has also been suspended due to overstocking of crude storage capacity.
As a reminder: CPC adheres to an uncompromising position on the environmental protection and safety during the operation of the Consortium’s Marine Terminal equipment in the Black Sea and the prevention of oil spill emergencies which is the reason for the current restrictions.
Resumption of the crude pipeline operation and oil lifting is to be advised.
For information:
CPC Pipeline System is one of the major investment projects with foreign capital in energy sector in the CIS. The length of the Tengiz – Novorossiysk pipeline is 1,511 km. This route transports over two-thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including those in the Caspian Region. 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: Federal Agency for State Property Management represented by Transneft (trust management) – 24%, IC CPC Company LLC– 7%, KazMunayGas – 19%, Kazakhstan Pipeline Ventures LLC – 1.75%, 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. S.ar.l. – 2% and Oryx Caspian Pipeline LLC – 1.75%.