Rosneft reduces oil shipments via CPC 25% in 2017
MOSCOW. May 22 (Interfax) - Rosneft shipped 2.1 million tonnes of oil and gas condensate via the Caspian Pipeline Consortium (CPC) pipeline in 2017, the company said in its annual report.
The company shipped 2.8 million tonnes of feedstock via CPC in 2016.
Rosneft has participated in the CPC project since 1996 via a Rosneft and Shell Caspian Ventures Ltd joint venture (JV), which has a 7.5% stake in the project. Rosneft holds 51% of the JV and Shell - 49%.
The CPC pipeline links oil fields in the west of Kazakhstan and Russian offshore Caspian fields with the maritime terminal in Novorossiysk. It is 1,511 kilometers long and has capacity for 67 million tonnes of oil per year. Around 75% of Kazakhstan's total oil exports are pumped via CPC.
CPC shareholders include Russia (Transneft - 24% and CPC Company - 7%) - 31%, Kazakhstan (KazMunayGaz - 19% and Kazakhstan Pipeline Ventures LLC - 1.75%) - 20.75%), Chevron Caspian Pipeline Consortium Company - 15%, Lukarco B.V. - 12.5%, CPC Mobil - 7.5%, Rosneft-Shell Caspian Ventures Limited - 7.5%, BG Overseas Holding - 2%, Oryx Caspian Pipeline LLC - 1.75%, Eni International N.A N.V. - 2%.