January 15, 2015 [PortNews IAA] - In January-December 2014, crude oil exports via CPC Marine Terminal in Novorossiysk increased by 22.2% to 39,957,826 t, CPC says.
In December, CPC exports climbed by 25.8% to 3,542,193 t.
CPC pipeline system is the largest investment project with foreign participation implemented in the CIS countries. The cost of the project’s Phase 1 is $2.6 billion. The total pipeline length, connecting oil deposits in western Kazakhstan to the Russian marine oil terminal is 1,510 km.
Russia is CPC’ major stockholder (through Transneft company) with a 31-percent stake, Kazakhstan (represented by KazMunaiGaz – 19% and Kazakhstan Pipeline Ventures LLC –1.75%) owns 20.75% of shares, Chevron Caspian Pipeline Consortium Company – 15%, LUKARCO BV – 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Ltd – 7.5%, BG Overseas Holding Limited – 2%, Eni International N.A. N.V. – 2%, Oryx Caspian Pipeline LLC – 1.75%.
