9 Jan 2025 18:31

Oil transportation through CPC to total 64.4 mln tonnes in 2024, 1 mln more than in 2023 - Transneft VP

MOSCOW. Jan 9 (Interfax) - Oil transportation through the Caspian Pipeline Consortium's (CPC) system is expected to total 64.4 million tonnes in 2024, which is nearly 1 million tonnes more than the 63.5 million tonnes transported in 2023, Transneft Vice President Vladimir Kalanda said in an interview with the company's corporate magazine.

The 1,511-km CPC pipeline, connecting oil fields in western Kazakhstan and Russian offshore fields in the Caspian Sea to a marine terminal in Novorossiysk, is the main export route for Kazakh oil, accounting for more than 80% of Kazakhstan's pipeline crude exports. The pipeline can now carry 72.5 million tonnes of crude from Kazakhstan and up to 83 million tonnes through Russia.

The CPC's shareholders are Russia and Transneft with 31%; Kazakhstan with 20.75% (represented by KazMunayGas with 19% and Kazakhstan Pipeline Ventures LLC with 1.75%); Chevron Caspian Pipeline Consortium Company with 15%; Lukoil International GmbH with 12.5%; Mobil Caspian Pipeline Company with 7.5%; Rosneft-Shell Caspian Ventures Limited with 7.5%; BG Overseas Holding Limited with 2%; Eni International N.A. N.V. with 2%; and Oryx Caspian Pipeline LLC with 1.75%.