MOSCOW, July 5. /TASS/. Caspian Pipeline Consortium (CPC) expects growth of oil shipments from the Tengiz field in Kazakhstan starting the second half of 2025, though this year shippers will not be able to ensure additional growth of supplies, Chief Executive Officer of the company Nikolay Gorban said in an interview to an in-house publication.
"Unfortunately, our shippers cannot provide more oil to us so far. Indeed, we have created surplus, a serious surplus, that same 72.5 mln tons from the Kazakh territory. However, according to updated information, so far, our shareholders and shippers have confirmed that there will be no more oil this year. We expect an increase on Tengiz to start in the second half of next year," he said.
CPC said at the end of May that it expected a decline in oil transportation by 7% in 2024, to around 65 mln tons, compared to prior requests for the year. Gorban said in January that the consortium planned to boost oil shipments in 2024 to over 70 mln tons from 63.5 mln tons in the previous year.
Speaking about replacement of single point moorings at the CPC marine terminal near Novorossiysk, CEO said that the company has already entered into a major contract for supply of equipment, which is being produced, while the consortium expects first communication and remote control systems to be received for trials.
CPC is the pipeline system connecting Kazakhstan with a seaport in Novorossiysk area, where tankers are loaded with oil for the supply to global markets. The 1,511 km long pipeline links oilfields in the West Kazakhstan with the marine terminal in Novorossiysk. CPC Marine Terminal is equipped with three single point moorings that allow loading tankers safely at a significant distance offshore, also amid poor weather conditions.
Among CPC shareholders are Russia (via Transneft), Kazakhstan (via KazMunayGas), structures of Chevron, Lukoil, ExxonMobil, a joint venture of Rosneft and Shell.