Caspian Pipeline Consortium ups oil shipments 6% in Q1
MOSCOW. April 8 (Interfax) - The Caspian Pipeline Consortium (CPC) pumped 7.695 million tonnes of crude oil via the Tengiz-Novorossiysk pipeline in the first quarter of 2013, 5.6% more than in the same period of last year, the CPC said.
Shipments in March grew 13% year-on-year and were 6.6% higher than in February.
The 1,511-km CPC pipeline runs from the Tengiz oil field in West Kazakhstan to the Russian Black Sea coast.
The company's sovereign shareholders are Russia with 31% of the shares, managed by Transneft (24%) and CPC Company - (7%); and Kazakhstan with 20.75% (stake is managed by KazMunayGas (19%) and Kazakhstan Pipeline Ventures LLC (1.75%)). The rest of the consortium belongs to private companies: Chevron Caspian Pipeline Consortium Company (15%), LUKARCO B.V. (12.5%), Rosneft-Shell Caspian Ventures Limited (7.5%), Mobil Caspian Pipeline Company (7.5%), Eni International (N.A.) N.V. (2%), BG Overseas Holding Ltd (2%) and Oryx Caspian Pipeline LLC (1.75%).
The CPC pumped 33.3 million tonnes of crude oil in 2012, 2.6% less than in 2011. Oil shipments via the Marine Terminal at the Russian port of Novorossiysk fell 3.8% in 2012 to 30.6 million tonnes.
The reduction was due to some objective reasons, including planned pipeline stoppages to enable new facilities to be integrated with the system, the CPC has said.
