Caspian Pipeline Consortium's oil transportation down 7.4% in H1 2026 to 33.35 mln tonnes

MOSCOW. Aug 18 (Interfax) - The Caspian Pipeline Consortium (CPC) shipped 33.35 million tonnes of oil in H1 2026, according to the operational report of one of the consortium's shareholders, the Kazakh national company KazMunayGas (KMG).

As reported, the CPC transported 36.024 million tonnes of oil in H1 2025. Shipments in January-June this year therefore decreased 7.4%.

Out of the total oil transportation via the CPC in January-June, KMG accounted for 6.92 million tonnes.

The CPC ensures the transportation of oil from three major Kazakh fields - Tengiz, Kashagan and Karachaganak. Transshipment amounted to around 70.5 million tonnes in 2025, with more than 75% coming from foreign shippers, among which the largest are Tengizchevroil (Chevron Corp. ), ExxonMobil , JSC KazMunayGas, Eni and Shell (SPB: RDS.A). The transshipment forecast for 2026 is 72 million tonnes of oil.

The CPC pipeline links oil fields in western Kazakhstan and Russian fields on the Caspian Sea shelf with the marine terminal in Novorossiysk on the Black Sea. The length of the route is 1,500 km. 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 around 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%).