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CPC' oil export rose by 4.8%

CPC' oil export rose by 4.8%
The Caspian Pipeline Consortium (CPC) has shipped to export 3.145 million tons of oil in January 2010 from its marine terminal near Novorossiysk, 4.8% over the same period in previous year.

Oil exports via the CPC rose by 4.8%, to 3.145 million tons in January 2010.

The Caspian Pipeline Consortium (CPC) has shipped to export 3.145 million tons of oil in January 2010 from its marine terminal near Novorossiysk, 4.8% over the same period in previous year, Today.kz agency reports. Overall, since the October 2001 pipeline start, more than 209 million tons (more than 1.6 billion barrels) of oil have been shipped via the CPC terminal.

The CPC owns and operates the 1.58-km pipeline Tengiz-Novorossiysk, which connects the oil field of the Western Kazakhstan with Russia's Black Sea coast. In December 2009, the CPC stockholders endorsed an increase of CPC's capacity to 67 million tons, the project is expected to be completed in 2014.

The Caspian Pipeline Consortium stockholders include Russian companies that hold 31% stocks (Transneft - 24% and CPC Company - 7%), Kazakhstan companies, holding 20.75% (represented by KazMunaiGaz - 19%, and Kazakhstan Pipeline Ventures LLC ? 1.75%), Chevron Caspian Piipeline Consortium Company - 15%, LUKARCO BV ? 12.5%, Mobil Caspian Pipeline Company ? 7.5%, Rosneft-Shell Caspian Ventures Ltd. ? 7.5%, BG Overseas Holding Ltd. - 2%, Eni International HA H.V. S.ar.l. - 2%, Oryx Caspian Pipeline LLC ? 1.75%.

www.turkishmaritime.com.tr

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