OREANDA-NEWS. January 12, 2011. The highest-ever monthly oil shipment volume of 3.21 mln tons (in excess of 25 mln bbl) was reached in December at the Marine Terminal of Caspian Pipeline Consortium (CPC) in the vicinity of Novorossiysk.

Total 2010 volume of crude oil exports through the CPC system is 34.9 mln tons, which is a record figure for one year; further 1.5 mln tons of oil were transported by the pipeline section in the Republic of Kazakhstan. Overall volume shipped since commissioning of the pipeline in October 2001 is in excess of 245 mln tons of oil.

Final Investment Decision for more than twofold expansion of the Caspian Pipeline Consortium mechanical capacity was passed in Moscow on December 15, 2010. Having signed the documents, Minister of Energy of the Russian Federation Sergey Shmatko, Deputy Minister of Oil and Gas of the Republic of Kazakhstan Lyazzat Kiinov and CPC General Director together with the representatives of all CPC Shareholders gave a start to the active phase of the Project. Construction is to commence in the coming spring.

CPC Expansion Project that provides for an increase of the pipeline system capacity to 67 MTPA envisages construction of 10 additional pump stations (2 within the territory of the Republic of Kazakhstan and 8 within the Russian Federation), six crude oil tanks in the vicinity of Novorossiysk, a third single-point mooring at the CPC Marine Terminal and replacement of an 88 km pipeline section in Kazakhstan.

CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by KazMunaiGaz – 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%.