Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact Us
Customer Login
 


Headlines
 

04/21 05:00   Russia political and economic calendar: April 21
 
04/20 21:57   Turchynov: Geneva talks first step towards peace
 
04/20 21:23   Five Caspian foreign ministers to gather in Moscow
 
04/20 20:00   Corrected: Lukashenko pledges commitment to peace in Ukraine
 
04/20 19:39   Lukashenko pledges commitment to peace in Ukraine
 
04/20 19:05   Over 11,000 servicemen to take part in May 9 parade in Moscow
 
04/20 18:43   New wild nature reserves to be set up in Russia in 2014
 
04/20 18:24   Kyiv urges Moscow to assist implementation of Geneva accords
 
04/20 17:57   Wildfires serious risk to Primorye national parks
 
04/20 17:38   Contradictory reports arriving on casualties in Kazakhstan rail accident
 




 

Interfax.com  |  Interfax news  |  CPC pipeline expansion to cost over $5 bln -...


News headlines


November 24, 2010 17:00

CPC pipeline expansion to cost over $5 bln - source (Part 2)

MOSCOW. Nov 24 (Interfax) - It will cost more than $5 billion to expand the Caspian Pipeline Consortium (CPC) oil pipeline, a source close to the consortium's shareholders told Interfax.

"The CPC expansion will cost more than $5 billion. There are real, objective reasons - the higher cost of tubular products and pumps, electricity charges plus inflationary trends. All this has an impact," the source said.

The source also said the CPC's operating budget for 2011, not including the expansion costs, would be $300 million.

The CPC's phased expansion was originally estimated at $4.6 billion. The expansion is aimed at boosting throughput capacity from 32 million to 67 million tonnes or, if anti-friction additives are used, to 76 million tonnes. The project foresees the construction of ten additional oil-pumping stations (two in Kazakhstan and eight in Russia), six reservoirs for oil storage near Novorossiisk and a third single buoy mooring at CPC's sea terminal. The consortium also plans to replace 88 kilometers of pipeline in Kazakhstan.

Existing pumping stations should now be modernized, the 88 km of pipeline in Kazakhstan replaced and the mooring built by 2012 in order to increase the system's capacity to 35 million tonnes from 28 million tonnes.

The second phase, which should raise capacity to 48 million tpa, should be implemented in 2013 and will see five new pumping stations and three new 100,000 cu m tank farms built at the sea terminal.

The third phase, in which another five pumping stations and three 100,000 cu m reservoirs will be built and throughput capacity augmented to 67 million tpa, is planned for 2014.

The CPC's sovereign shareholders are Russia with 31% (managed by Transneft (RTS: TRNF) - 24% and CPC Company - 7%) and Kazakhstan has 20.75% (KazMunaiGas - 19% and Kazakhstan Pipeline Ventures LLC - 1.75%). The rest of the consortium belongs to private companies: Chevron Caspian Pipeline Consortium Company (15%), LUKARCO B.V. (12.5%), Rosneft-Shell Caspian Ventures Limited (7.5%), Mobil Caspian Pipeline Company (7.5%), Eni International (N.A.) N.V. (2%), BG Overseas Holding Ltd (2%) and Oryx Caspian Pipeline LLC (1.75%).

Pr

(Our editorial staff can be reached at eng.editors@interfax.ru)

/Interfax/
 Subscription
You can access a demo version of, receive more information about or subscribe to Interfax publications by filling in and returning the form below. We also have dozens of reports in the Russian language, please indicate if you are interested.
Title:


Phone:


E-mail:


First name:


Company:


Country:
Last name:


Division:


City:
Products:
Central Asia & Caucasus Business Weekly
Central Asia General Newswire
Global Gas Analytics
Global Natural Gas Daily
Interfax Via Bloomberg Terminal
Kazakhstan General Newswire
Kazakhstan Mining Weekly
Kazakhstan Oil & Gas Weekly
Russia & CIS Announcements
Russia & CIS Banking and Finance Weekly
Russia & CIS Business and Financial Daily
Russia & CIS Business and Financial Newswire
Russia & CIS Business and Investment Weekly
Russia & CIS Business Law Weekly
Russia & CIS Business news
Russia & CIS Defense Industry Weekly
Russia & CIS Diplomatic Panorama
Russia & CIS Energy Daily
Russia & CIS Energy Newswire
Russia & CIS Events Calendar
Russia & CIS Food and Agriculture Weekly
Russia & CIS General Newswire
Russia & CIS Headline News
Russia & CIS Insurance Weekly
Russia & CIS IT and Telecom Weekly
Russia & CIS Metals and Mining Weekly
Russia & CIS Military Daily
Russia & CIS Military Newswire
Russia & CIS Military Weekly
Russia & CIS Oil and Gas Weekly
Russia & CIS Presidential Bulletin
Russia & CIS Statistics Weekly
Russia Health & Pharmaceuticals
Russia Market Roundup
Russia Press Review
Ukraine Business Daily
Ukraine Business Weekly
Ukraine General Newswire

April 21, 2014
 
05:00
Russia political and economic calendar: April 21
 
April 20, 2014
 
21:57
Turchynov: Geneva talks first step towards peace
 
21:23
Five Caspian foreign ministers to gather in Moscow
 
20:00
Corrected: Lukashenko pledges commitment to peace in Ukraine
 
19:39
Lukashenko pledges commitment to peace in Ukraine
 
19:05
Over 11,000 servicemen to take part in May 9 parade in Moscow
 
18:43
 
18:24
Kyiv urges Moscow to assist implementation of Geneva accords
 
17:57
Wildfires serious risk to Primorye national parks
 
17:38
Contradictory reports arriving on casualties in Kazakhstan rail accident
 
17:25
Three killed, three others wounded in skirmish in Slovyansk - police
 
17:08
Kyiv disregards Geneva accords - Donbass Self Defense leader
 
15:58
Kremlin aide calls The Times' article on possible sanctions against Putin canard
 
15:10
Donbass self-defense reports nighttime shooting at five roadblocks in Sloviansk
 
 more headlines 



Interviews
 

.
Spanish Ambassador to Russia Jose Ignacio Carbajal has given an interview to Interfax in which he speaks about the situation in Ukraine, the possible third phase of sanctions against Russia, and separatist trend that has lately come to shape in Europe.

more
.
.
Domenico Dispenza, president of the International Group of LNG Importers and former chief operating officer of Eni‘s gas and power division, speaks to Interfax about the group‘s new report on global LNG imports for 2013.

more
.
.
Interfax spoke to Dr. Leonhard Birnbaum, member of the board of management for markets and services at E.On, about the energy balance in Europe and gas’s place in it.

more

 
  
 ©   1991—2014   Interfax Information Service. All rights reserved.
contact information   |   Interfax offices   |   made by web.finmarket

News and other data on this site are provided for information purposes only, and are not intended for republication or redistribution. Republication or redistribution of Interfax content, including by framing or similar means, is expressly prohibited without the prior written consent of Interfax.

Browse other Interfax sites:  Interfax.ru   |   IFX.RU   |   Interfax Group   Rambler's Top100