CPC expected to get two new single point moorings ahead of schedule in Jan
ASTANA. Dec 15 (Interfax) - Two new single point moorings (SPM) are expected to be delivered to the Caspian Pipeline Consortium (CPC) in January, which is earlier than previously planned, Kazakh Energy Minister Yerlan Akkenzhenov said.
"We're working on deliveries of two new Arab-made SPMs that we plan to deliver in January. Previously it was planned to deliver in April," Akkenzhenov said at a briefing on Monday, adding that the CPC's infrastructure is expected to be fully restored.
"There is significant damage to SPM-2. There's a big 2.5-3 meter hole that was formed due to a directed blast. We will need to assess the technological damage. If we can fix it, then SPM-2 will be put into operation," he said.
At present, oil is being loaded only from SPM1 and SPM-2 is undergoing scheduled maintenance. In addition, SPM-2 was put out of commission by a drone boat attack at the Novorossiysk seaport on the morning of November 29.
In light of this, Kazakhstan's Energy Ministry said it would put into action a plan to redirect oil exports to alternative routes, although it also said oil is being transported through the CPC pipeline without restriction. On December 10, the ministry said it would reroute some oil from the Kashagan field to China.
The attacks on the, which carries most of Kazakhstan's oil exports, have cost the country 480,000 tonnes of oil output, but the production target for 2025 will be met, the ministry.
The 1,500-km CPC pipeline, which connects 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 CPC can now carry 72.5 million tonnes of crude from Kazakhstan and up to 83 million tonnes through Russia.
The CPC is expected to transport 72 million74 million tonnes of oil in 2025, up from 63.01 million tonnes in 2024.
The CPC's shareholders are Russia with 31% (24% managed by Transneft, 7% on balance sheet); 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%.
