The Caspian Pipeline Consortium (CPC) debottlenecking program allowed for an increase in the pipeline capacity to approximately 72.5 million tons per annum from Kazakhstan in 2022, said CPC Director General Nikolay Gorban at the meeting with Kazakh Prime Minister Alikhan Smailov on Feb. 16, reported the Prime Minister’s press service.
The sides addressed the company’s results in 2022, current activities, and future plans, focusing on the CPC’s stable operation and development.
According to Smailov, the CPC plays a significant role in Kazakhstan’s oil industry, and its operational stability is crucial for the government. Smailov also focused on the need to increase the capacity of the pipeline, which in turn, will enable it to transport additional volumes of oil from the country.
“Last year, the CPC activities were limited due to damage to single point moorings (SPM) at the marine terminal. The repair is complete, and all limitations have been eliminated. It is critical to take all possible precautions to prevent similar situations in the future,” Smailov said.
Gorban said the CPC takes measures to ensure the stable functioning of the oil pipeline and to raise the reliability of the equipment used.
The CPC pipeline system is one of the major investment projects in the Commonwealth of Independent States (CIS). The length of CPC’s Tengiz-Novorossiysk pipeline, in operation since 2001, is 1,511 kilometers. This route transports over two-thirds of all Kazakhstan’s crude exports. The CPC marine terminal is equipped with three SPMs that allow for loading tankers safely at a significant distance.
The major shareholders of the CPC include the Russian Federation (Transneft) at 24 percent, Kazakhstan (KazMunayGas) at 19 percent, as well as Chevron Caspian Pipeline Consortium Company at 15 percent, LukArco at 12,5 percent. Smaller shareholders include Mobil Caspian Pipeline Company (7,5 percent), Rosneft-Shell Caspian Ventures Limited (7,5 percent), CPC Company (7 percent), BG Overseas Holding Limited (2 percent), Eni International (2 percent), Kazakhstan Pipeline Ventures (1,75 percent) and Oryx Caspian Pipeline (1,75 percent).
Its pipeline transports mostly Kazakh oil from Tengiz and Kashagan oil fields, which accounts for almost 90 percent of all the transported oil.
Source : Astana Times
