Russia Supports the Plan to Enlarge an Oil Pipeline
Posted on: Wednesday, 20 July 2005, 06:00 CDT
Russia supports the plan of the enlargement of the oil pipeline from Tengis to Novorosijsk in 2005. This oil pipeline with a length of 1,580 km between western Kazakstan and the Russian coast of the Black Sea should increase the volume of transported oil to 32 mil tonnes in 2005
. The consortium of the oil pipeline's operators, which was set up in 1992, reported in the middle of 2005, that it is preparing the enlargement of the oil pipeline Caspian Pipeline Consortium (CPC). The plan counts on the construction of 10 additional pumping stations and other warehouses. The capacity of the equipment could increase to 67 mil tonnes. Russia holds a 24% stake in CPC, another 19% stake is held by Kazakstan and a 7% stake by Oman. One of the private oil firms, which are the members of the consortium, are the oil concern Chevron (USA) with a 15% stake, among others.Source: Access Czech Republic Business Bulletin
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