Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact Us
Customer Login
 


Headlines
 

07/24 09:43   Luhansk city administration reports three civilian deaths in past 24 hours
 
07/24 09:40   Banks have 1159.7 bln rbs on CBR correspondent accounts on July 24.
 
07/24 09:40   Northern River Shipping to go up for sale with 10% drop in price
 
07/24 09:36   VTB 24 forecasts higher net profit in 2014
 
07/24 09:35   Russia still has no Kyiv answers about Malaysian Boeing crash - Defense Ministry
 
07/24 09:32   Russia may ban Ukrainian powdered milk and dry whey imports
 
07/24 09:30   Attention subscribers: Press conference of Israeli foreign minister at Interfax
 
07/24 09:29   Russian Post signs deal with Ebay to optimize deliveries
 
07/24 09:27   Nine instances of gunfire from Ukraine against Russian territory registered in June and July - Defense Ministry
 
07/24 09:25   Russian agriculture watchdog may allow pork imports from South Korea
 




 

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

July 24, 2014
 
09:36
VTB 24 forecasts higher net profit in 2014
 
09:35
Russia still has no Kyiv answers about Malaysian Boeing crash - Defense Ministry
 
09:32
Russia may ban Ukrainian powdered milk and dry whey imports
 
09:30
Attention subscribers: Press conference of Israeli foreign minister at Interfax
 
09:29
Russian Post signs deal with Ebay to optimize deliveries
 
09:27
Nine instances of gunfire from Ukraine against Russian territory registered in June and July - Defense Ministry
 
09:25
Russian agriculture watchdog may allow pork imports from South Korea
 
09:23
 
09:21
U.S. has not provided a single piece of evidence of militia role in Malaysian Boeing crash - Russian Defense Ministry
 
09:19
Economy ministry says European businessmen are showing interest in Crimean infrastructure
 
09:14
European Parliament's GUE/NGL urges Kyiv not to ban Ukraine Communist Party
 
09:13
Moscow press review for July 24, 2014
 
09:10
RUSSIA REGISTERED NINE INSTANCES OF GUNFIRE AGAINST ITS TERRITORY IN JUNE AND JULY - DEFENSE MINISTRY
 
09:08
U.S. HAS NOT PRESENTED A SINGLE PIECE OF EVIDENCE OF MILITIA INVOLVEMENT IN MALAYSIAN BOEING CRASH - RUSSIAN DEFENSE MINISTRY
 
 more headlines 



Interviews
 

.
Palestinian leader Mahmoud Abbas signals readiness for compromise and praises Russia’s role in settling conflict in Middle East in an exclusive interview with Interfax

more
.
.
Greek Ambassador to Russia Danai-Magdalini Koumanakou has given an interview with Interfax in which she speaks about Russian-Greek interaction following the aggravation of relations between the European Union and Russia, her perception of EU sanctions against Russia and the upcoming high tourist season.

more
.
.
Peter Poptchev is a Bulgarian diplomat and recently served as adviser to the country’s minister of economy and energy. He was part of the Bulgarian negotiating team for both the South Stream and Nabucco intergovernmental agreements (IGAs). In this interview, he tells Interfax that Gazprom’s South Stream project will benefit from the EU’s Third Energy Package (TEP).

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