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Caspian Pipeline Consortium

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The Caspian Pipeline Consortium is an international consortium of 1,510-kilometer long oil pipeline from Tengiz field to the Novorossiysk-2 Marine Terminal on Russia’s Black Sea coast. It also major export route for the oil from Kashagan and Karachaganak fields. The first stage of the CPC with an approximately cost of US $700 million was opened on 27 November 2001. The pipeline diameter varies between 1,016 mm and 1,067 mm. The transport of oil began at 350,000 barrels per day and reach now 700,000 barrels per day. The planned capacity of pipeline at the first stage is 28.2 million tons of oil per year. A second stage, if constructed, would increase capacity to 1.3 million barrels per day by 2010. The estimated cost of second stage would be around $2.0 billion dollars.

1 History
2 Pipeline company
3 External links
4 References

History

CPC today grew out of an earlier CPC development by the Russian, Kazakhstani and Omani government to create a dedicated pipeline from Kazakhstan to export routes through the Black Sea. CPC was initially created in 1992 between the three governments. Chevron was also asked to join, however joining talks broke down due to the high finical burden Chevron would have to take in relation to it equity in the pipeline. Progress on the project stalled for several years until 1996 when it was restructured to include producing companies as well. These partners are the same as the ones listed below with the exception of Shell which came into the Consortium later after buying out Kerr McKee's share in 2003. In April 2007, the Russian government transferred its shares to the Russian state-owned oil pipeline company Transneft.^[1] There has also been rumours of Mittal Engery acquiring the Government of Oman's stake in the project.