Caspian Pipeline Consortium (CPC)

Caspian Pipeline Consortium Latest News

Russia said oil flows through the Caspian Pipeline Consortium (CPC), a major route for supplying Kazakhstan and exporting to the global market, were reduced by 30-40% recently after a Ukrainian drone attack on a pumping station.

About Caspian Pipeline Consortium

• CPC is a $2.6 billion project consisting of a 935-mile crude oil pipeline that runs from the Tengiz oil field in Kazakhstan to the Russian Black Sea port of Novorossiysk.
• Construction on the CPC pipeline began in 1999. 
• It was commissioned in 2001, and a $5.1 billion expansion project was completed in 2018.
• It is a key East-West pipeline that will carry oil from the Caspian Sea region to international markets.
• CPC includes the Russian and Kazakh governments, as well as Western energy majors Chevron, ExxonMobil, and Shell.
• This pipeline accounts for two-thirds of Kazakhstan's oil exports. 
• The pipeline's total capacity is 1.4 million barrels per day of oil. This is 2.3 percent of global seaborne oil trade.

Caspian Pipeline Consortium FAQs

Q1. Who owns the Caspian Pipeline Consortium?

Ans. The consortium is composed of 11 companies in total. Russian companies own 36.5% of shares of the consortium.

Q2. What is the capacity of the Caspian Pipeline Consortium?

Ans. The pipeline's total capacity is 1.4 million barrels per day of oil. 

Q3. Which countries border the Caspian Sea?

Ans. The Caspian Sea is bordered by five countries: Kazakhstan, Turkmenistan, Iran, Azerbaijan, and Russia.

Source: TH