CPC resumes loading oil in regular mode after 1 month of repair works

MOSCOW. April 25 (Interfax) - The Caspian Pipeline Consortium (CPC) has started again the loading of tankers after the No. 3 single-point mooring (SPM-3) was brought back on line after repairs, the CPC press service said on Sunday.

"On April 23, 2022, SPM-3 was recommissioned at the maritime terminal of CPC following repairs. The brief improvement of weather conditions on April 23, 2002, made it possible to perform diving operations and open up the PLEM (pipeline end manifold) to resume the handling of oil at this single-point mooring," the CPC said.

The Delta Commander oil tanker currently remains anchored at SPM-3, and the loading is underway, it said. Meanwhile, the No. 2 single-point mooring (SPM-2) remains temporarily decommissioned, and SPM-1 is operating in regular mode, it said.

As previously reported, Kazakh Energy Minister Bolat Akchulakov said on April 20 that the repairs and maintenance at the CPC's marine terminal were nearly complete, and that the SPM-3 would resume full operation shortly. "The CPC should be fully operational and 100% back on line by the end of this week. That is two SPM, with the third under repair, though it has been a backup in general. They have always operated with two SPMs," Akchulakov said at the time.

The CPC halted oil loading at its terminal in Novorossiysk, on the Black Sea on March 23 due to discovered and possible storm damage to single-point moorings. On March 28, the CPC resumed intake of oil into the Tengiz-Novorossiysk system at minimum productivity, along with loading of tankers through SPM-1.

The Kazakh Energy Ministry estimated that Kazakhstan could have suffered oil production losses from the damage at the CPC terminals, at approximately 320 thousand barrels, or 1.3 million tonnes, per day if repair works at SPM-2 and SPM-3 had lasted until the end of April. The country's Finance Ministry estimated that Kazakhstan could suffer more than $330 million in losses from the damage at the CPC terminals.

The CPC is an international oil transportation project involving Russia, Kazakhstan and several leading global oil producers. The project was started years ago to build and operate a trunk pipeline of over 1,500 km. The pipeline system mainly takes in oil from large fields in Western Kazakhstan, as well as from Russian producers. Crude oil is transshipped at port facilities near Novorossiysk. The CPC is the main export route for Kazakh oil, accounting for more than 80% of the volumes pumped through the pipeline. After the completion of an expansion project in 2018, the capacity of the pipeline is 67 million tonnes of fuel per year.

CPC's shareholders are Russia with 31% represented by Transneft with 24% and CPC Company with 7%; Kazakhstan with 20.75% represented by KazMunayGaz with 19% and Kazakhstan Pipeline Ventures LLC with 1.75%; Chevron Caspian Pipeline Consortium Company with 15%; Lukarco B.V. with 12.5%; Mobil Caspian Pipeline Company with 7.5%; Rosneft-Shell Caspian Ventures Limited with 7.5%; BG Overseas Holding Limited with 2%; Eni International N.A. N.V. with 2%; and Oryx Caspian Pipeline LLC with 1.75%.