Caspian Pipeline Consortium 2009 Exports At 34.6 Million Tons; Up 10%

Jan 11. Dow Jones

By Jacob Gronholt-Pedersen

Caspian Pipeline Consortium 2009 Exports At 34.6 Million Tons; Up 10%The Caspian Pipeline Consortium, which pumps oil from Kazakhstan to the Black Sea, last year shipped 34.6 million tons of oil through the Novorossiysk terminal, a 9.9% increase from 2008, the company said Monday.

CPC shipped a total of 319 tankers at the Novorossiysk terminal in 2009, the company said.

The company didn’t give any reason for the increase and a company spokesman declined to comment on expected volumes for this year.

The Chevron Corp.-led (CVX) CPC group said last month it plans to boost the capacity of the 1,580-kilometer pipeline to 67 million metric tons a year by 2014 as part of a $4.5 billion expansion program.

The CPC consortium also includes Russia’s OAO Lukoil Holdings (LKOH.RS) and OAO Transneft (TRNFP.RS), Exxon Mobil Corp. (XOM), Kazakhstan’s KazMunaiGas, Italy’s Eni SpA (E) and Royal Dutch Shell PLC (RDSA).

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