4 Jul 2019 17:22

Oil exports via Caspian Pipeline Consortium up slightly to 30.5 mln tonnes in H1

MOSCOW. July 4 (Interfax) - Oil shipments via the Caspian Pipeline Consortium (CPC) rose 0.6% year-on-year in H1 2019 to 30.5 million tonnes, according to CPC data.

This included 5.6 million tonnes in June, up 13%. The June shipments included 2.5 million tonnes of oil from the Tengiz field, 937,200 tonnes from the Karachaganak field, 1.5 million tonnes tonnes from the Kashagan field and 125,300 tonnes from other Kazakh producers. Russian consignors exported 689,300 tonnes.

The sea terminal handled 286 tankers in H1, including 52 in June. The June schedule was fulfilled in its entirety.

Based on actual throughput, the CPC plans to carry 65.1 million tonnes of oil in 2019.

The 1,511-km CPC pipeline runs from the Tengiz oil field in West Kazakhstan to Novorossiysk on the Russian Black Sea coast. Capacity is over 67 million tonnes. The pipeline carries around three-quarters of Kazakhstan's export crude.

Oil exports via the CPC grew 8.9% in 2018 to 60 million tonnes.

The CPC's sovereign shareholders are Russia with a 31% stake, managed by Transneft (24% with another 7% stake on its balance sheet), and Kazakhstan with a 20.75% stake, managed by KazMunaiGas (19%) and Kazakhstan Pipeline Ventures (1.75%). The rest of the consortium belongs to private companies: Chevron Caspian Pipeline Consortium Company (15%), Lukarco (12.5%), Rosneft-Shell Caspian Ventures (7.5%), Mobil Caspian Pipeline Company (7.5%), Eni International (N.A.) (2%), BG Overseas Holding (2%), and Oryx Caspian Pipeline (1.75%).