Caspian Pipeline Consortium Eyes Record Oil Exports of 72 Mln Tons in 2026

MOSCOW, May 19. /TASS/. The Caspian Pipeline Consortium (CPC) may export a record 72 mln tons of oil this year, head of the company Nikolay Gorban said.

"We have long been technically prepared to handle over 80 million tons of oil per year. Plans are subject to adjustments based on various circumstances, weather conditions, and shippers’ decisions. For example, in 2025, all these adjustments reduced the estimated volume of shipments to 70.52 mln tons, this still being a historical record for annual shipments, even with a damaged SPM [single point mooring]. In 2026, under favorable conditions, we expect at least 72 mln tons of oil, of which more than 23 mln have already been shipped to date," he was quoted as saying in an interview with the Expert South media outlet published on the CPC’s website.

According to Gorban, the consortium’s revenue amounted to 173 bln rubles (2.4 bln) last year, up from 166 bln rubles in 2024.

Currently, the CPC’s pipeline system is capable of transporting around 72.5 mln tons of oil per year from Kazakhstan and up to 83 mln tons of oil per year through Russia.

The Caspian Pipeline Consortium is the largest route for transporting oil from the Caspian region to global markets. The 1,511 km long main pipeline connects oil fields in Western Kazakhstan with Russia’s Black Sea coast where oil is loaded onto tankers via the CPC’s marine terminal. Among CPC shareholders are Russia (via Transneft), Kazakhstan (via KazMunayGas), structures of Chevron, Lukoil, ExxonMobil, a joint venture of Rosneft and Shell.