Caspian Pipeline Consortium plans to increase oil transshipment to 72 mln tonnes in 2026 - consortium head

MOSCOW. May 19 (Interfax) - The Caspian Pipeline Consortium (CPC) plans to increase oil transshipment in 2026.

"We have long been technically ready to transship over 80 million tonnes of oil per year. Plans are adjusted by various circumstances, weather conditions and shippers' decisions. For example, in 2025, all these adjustments reduced the expected transshipment level to 70.52 million tonnes - and even so, it was a historical record for annual shipments, even with a damaged single point mooring," the general director of the consortium Nikolai Gorban told the publication Expert Yug.

"In 2026, under favorable conditions, we expect at least 72 million tonnes of oil, of which more than 23 million have already been shipped to date," Gorban said.

He also said the CPC increased revenue to 173 billion rubles in 2025 from 166 billion rubles in 2024 and that total declared dividends for all shareholders in 2025 were $1.4 billion.

The CPC pipeline links oil fields in western Kazakhstan and Russian fields on the Caspian Sea shelf with the marine terminal in Novorossiysk. It serves as the primary export route for Kazakh crude, with Kazakh volumes making up more than 80% of the system's total throughput. The pipeline can transport about 72.5 million tonnes of oil annually from Kazakhstan and up to 83 million tonnes per year across Russian territory.

The shareholders of the CPC are the Russian Federation (31%, comprised of 24% managed by Transneft and 7% on its balance sheet); Kazakhstan (20.75%, represented by KazMunayGas at 19% and Kazakhstan Pipeline Ventures LLC at 1.75%); Chevron Caspian Pipeline Consortium Company (15%); Lukoil International GmbH (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%).