Caspian Pipeline Consortium Expansion waiting Confirmation
The expansion of capacity of the Caspian Pipeline Consortium needs to be confirmed by the end of the year, President of Kazakhstan, Nursultan Nazarbayev stated at the session of 6th
Forum on Interregional Cooperation of Kazakhstan and Russia in Orenburg, Kazakhstan Today reports, citing the official media.
According to Nazarbayev, almost all organizational issues regarding the expansion of the Caspian Pipeline Consortium capacities have been resolved with the shareholders," he said.
As was reported earlier, in December 2008, the shareholders and representatives of the Department of Energy and Mineral Resources of Kazakhstan and the Department of Energy of Russia signed a memorandum on the principles of expansion of the Caspian Pipeline Consortium to increase its carrying capacity from 33 million tons, up to 67 million tons of oil per year.
The oil pipeline connects Tengiz field with the export terminal near the Novorossiysk port in the Black Sea.
The pipeline system is 1.58 thousand kilometers in length, according to Kazakhstan Today.