Russia ready to ramp up flow of Kazakh oil via Caspian Pipeline Consortium - ambassador

ASTANA. May 26 (Interfax) - Russia has the capacity to ramp up the volume of Kazakh oil pumped via the Caspian Pipeline Consortium (CPC), Russian Ambassador to Kazakhstan Alexei Borodavkin said.

"We are ready to ramp up the volume of Kazakh oil pumped [via the CPC]," Borodavkin said during an interview with Rossiya 24 TV.

Borodavkin also said that the CPC would continue to operate despite "attempts to damage the project's infrastructure."

The CPC connects oil fields in western Kazakhstan and Russian ones on the Caspian Sea shelf with the marine terminal in Novorossiysk. The route's length is 1,500 km. The system is the main export route for Kazakh oil, accounting for more than 80% of the volumes pumped via the pipeline from Kazakhstan. The CPC is capable of transporting approximately 72.5 million tonnes of oil per year from Kazakh territory and up to 83 million tonnes of oil per year through Russia.

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%).