The Caspian Pipeline Consortium (CPC) has significantly reduced the volume of oil pumped through the Tengiz-Novorossiysk pipeline system due to repairs at the Tengiz field, the consortium said.
“Also, due to the shutdown of oil production at the Kashagan field, the volumes of oil intake into the CPC pipeline system have been reduced. These factors caused a significant decrease in the total volume of oil pumped through the Tengiz-Novorossiysk pipeline. The restoration of regime volumes of pumping will be announced additionally,” the message says.
It is noted that the company’s shareholders and shippers are notified of the current situation. The CPC is the main export route for Kazakh oil, accounting for more than 80% of the volumes pumped through the pipeline. The line’s capacity is 67 million tons of oil per year.
CPC shareholders are: the Russian Federation (24% in the management of Transneft, 7% on the balance sheet) – 31%, Kazakhstan (represented by Kazmunaigas – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%, Chevron Caspian Pipeline Consortium Company – 15%, LUKARCO B.V. – 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited – 2%, Eni International N.A. N.V. – 2% and Oryx Caspian Pipeline LLC – 1.75%.
Source: Turan News Agency