Caspian Pipeline Consortium
The Caspian Pipeline Consortium (CPC) pipeline runs from the Tengiz oil field in West Kazakhstan to the Novorossiysk sea port. Rosneft has been in the CPC project since 1996 via the Rosneft Shell Caspian Ventures Ltd. joint venture (project share is 7.5%). The Company holds 51% in the joint venture, with Shell holding the remaining 49%.
Rosneft shipped 3.8 mln tons of oil and gas condensate via this pipeline, including toward Russia’s quota that is managed by Transneft. Volume growth from 1.7 mln tons in 2012 was mainly driven by the launch of OJSC Orenburgneft’s light crude sales.