ASTANA, Kazakhstan, January 14. In 2024, the Caspian Pipeline Consortium's Marine Terminal shipped 63 million tonnes of oil on 584 oil tankers, Trend reports via the Caspian Pipeline Consortium (CPC).
The largest shipments came from Kazakhstan’s Tengiz, Karachaganak, and Kashagan fields, with 26.8 million tonnes, 9.8 million tonnes, and 17.2 million tonnes, respectively.
Initially, CPC had forecasted 70 million tonnes of oil to be shipped in 2024, a projection incorporated into their budget to plan for capital expenditures, operational projects, and the necessary energy capacity reserves to maintain smooth oil pumping operations. Additionally, the forecast included costs for anti-friction additives and other safety measures for the Tengiz-Novorossiysk pipeline.
All oil delivered to the Tengiz-Novorossiysk system was transported to the CPC Marine Terminal and loaded onto tankers, with no emergency halts or disruptions in oil pumping. There were no factors from the Consortium that could have contributed to a decrease in oil production or hindered the fulfillment of preliminary pumping requests.
However, at the May 2024 meeting, the CPC governing bodies raised concerns over a 7 percent reduction in expected oil transport volumes compared to the initial budget. This shortfall was due to shippers not meeting their initial volume requests, significantly affecting the Consortium's profitability and the dividends distributed to its shareholders.
The Caspian Pipeline Consortium, a partnership between Russian, Kazakh, and foreign extractive companies, was established for the construction and operation of the Caspian Main Oil Pipeline.