Caspian Pipeline Consortium (CPC) Marine Terminal has set a record in oil loading as of 2019, rising the volumes by 2,172,074 to 63,256,105 gross tons of crude oil as compared to 2018, Trend reports citing CPC.
Reportedly, the highest volume of oil loading was recorded in December 2019 with over 5,834,854 tons (46,270,277 barrels) were loaded into the tanks of oil carrier ships during that period.
In December 2019, 56 tankers set off on a voyage from the single point moorings, which allowed to record an annual of 597 vessels, said CPC.
“Out of the just over 63 million tons of oil loaded at the Marine Terminal in 2019, 55,841,511 tons of crude oil were supplied by Kazakhstan shippers, another 7,414,594 tons of oil coming from Russia. The largest oil volumes came into the CPC pipeline system in 2019 from the Tengiz, Karachaganak and Kashagan fields – 29,893,404 tons, 10,078,817 tons, and 14,120,228 tons respectively,” said the company.
CPC Pipeline System is one of the major investment projects in energy sector with participation of foreign capital in the CIS. The length of the Tengiz–Novorossiysk Pipeline is 1,511 km; it transports over two thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including the Caspian Region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor weather conditions.
CPC Shareholders are CPC Shareholders are Russian Federation (represented by Transneft – 24 percent and CPC Company – 7 percent) – 31 percent; Republic of Kazakhstan (represented by KazMunayGas – 19 percent and Kazakhstan Pipeline Ventures LLC – 1.75 percent) – 20.75 percent; Chevron Caspian Pipeline Consortium Company – 15 percent, LUKARCO B.V. – 12.5 percent, Mobil Caspian Pipeline Company – 7.5 percent, Rosneft-Shell Caspian Ventures Limited – 7.5 percent, BG Overseas Holding Limited – 2 percent, Eni International N.A. N.V. – 2 percent and Oryx Caspian Pipeline LLC – 1.75 percent.