US grants sanctions exemptions for CPC and Tengizchevroil projects
Tengrinews.kz - The U.S. Department of the Treasury has issued a license allowing oil services linked to the Caspian Pipeline Consortium (CPC) and Tengizchevroil (TCO) projects, according to an official announcement.
License No. 124, published on the Treasury’s website, authorizes “all transactions prohibited by the determination of January 10, 2025.”
The previous license, No. 121, is set to expire on June 28, 2025.
The CPC is a key route for exporting Kazakh oil. It connects the Tengiz oil field in western Kazakhstan to the Yuzhnaya Ozereevka terminal on the Black Sea, near the Russian port of Novorossiysk. The 1,510-kilometer pipeline includes 452 kilometers within Kazakhstan and is equipped with 15 pumping stations, a 1 million-cubic-meter oil storage facility, and three offshore mooring points.
CPC’s annual capacity stands at 81.5 million tonnes. In 2024, Kazakhstan exported 68.6 million tonnes of oil, with 54.9 million tonnes—around 80 percent—transported via the CPC.
Tengizchevroil’s shareholders include Chevron Corp. (50%), ExxonMobil Kazakhstan Ventures Inc. (25%), KazMunayGas (20%), and Lukoil (5%).
Previously, Kazakhstan proposed to impose a ban on the export of petroleum products, including to the EAEU countries, for a period of six months.
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