CPC adopts new regulations on tanker loadings in its marine terminal

BCM Resources

11/07/2023 12:54

MOSCOW, July 11 (Reuters) - Caspian Pipeline Consortium
(CPC) said it has adopted new regulations allowing it to reduce
the loading speeds of oil tankers in its marine terminal at
times of changing weather conditions to minimize air pollution.
    The consortium has begun to reduce the tanker loading speeds
not only in case of bad weather conditions announced by local
authorities, but also in cases of southern winds in the area of
the CPC Terminal in Yuzhnaya Ozereevka, CPC said in a statement.
    The regulations came into force on April 27, the consortium
said, and appropriate changes were made to internal documents.
    The new regulations have not led to any disruption or delays
in oil loadings from CPC terminal so far, according to two
traders familiar with the port's operations.
    Last year CPC was told by a Russian court to suspend
activity for 30 days, citing issues related to oil spills.
    Kazakhstan aims to boost oil exports via the Caspian
Pipeline Consortium (CPC) system by 8.7% year-on-year to 56.5
million tonnes in 2023.
    CPC, which handles around 1% of global oil deliveries, is a
main export route for crude oil produced in Kazakhstan and has
its end point in Russia's south. CPC Blend is the grade exported
from the marine terminal to international markets.
    The main shareholders in CPC are Russian pipeline operator
Transneft  TRNF_p.MM  with a 24% stake, Kazakhstan's KazMunayGas
with 19%, and the Chevron Caspian Pipeline Consortium Company
with 15%.
    Others include LUKARCO B.V (12.5%), Mobil Caspian Pipeline
Company (7.5%), Rosneft-Shell Caspian Ventures Limited (7.5%)
and Eni International (N.A.) N.V. S.a.r.l. (2%).
    

 (Reporting by Reuters; editing by David Evans)