This year the Caspian Pipeline Consortium (CPC) celebrates 25 years since the signing of the Shareholders Agreement.
This document, dated December 6, 1996, formed the company in its present form. Also in 2021, it will be 20 years since the beginning of the filling of the CPC pipeline system with oil from the Tengiz field, and 20 years since the loading of first tanker at the CPC Marine Terminal in Novorossiysk.
The consortium reached its primary design capacity of 28.2 million tons of oil per year in mid-2004. In December 2009, the CPC Trunk Pipeline Expansion Project was launched. It was successfully completed in 2018, and today the capacity of the CPC pipeline is 67 million tons of oil per year.
In May 2019, CPC began implementing the Bottleneck Removal Program. Upon its completion in 2023, the throughput capacity of the CPC oil pipeline will be increased to 80 million tons of oil per year.
Caspian Barrel
