Tuesday, December 29, 2009

Caspian Pipeline Consortium approves oil pipeline and terminal expansion

ALMATY, Kazakhstan - The Caspian Pipeline Consortium (CPC) plans to expand the capacity of the 1,580-km. CPC Pipeline, which runs from western Kazakhstan to the Black Sea coast in Russia, to 67 MMt/a of oil.
The expansion project was approved at a recent meeting of the CPC board of directors. The meeting also covered matters regarding the project management, purchase of long-lead equipment and financing approaches for the project.
The expansion will involve construction of 10 additional pump stations - two to be located in Kazakhstan and eight to be located in Russia - six crude oil storage tanks near Novorossiysk, and a third single point mooring at the CPC Marine Terminal.
Construction is expected to begin as early as next year with completion in 2014.

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