Kazakstan-Russia oil pipeline to begin expansion Friday

. ASTANA, July 1 (Itar-Tass) -- The long-delayed project worth 5.4
billion dollars to modernize and expand the 1,500-km long oil pipeline of
the Caspian Pipeline Consortium (CPC) linking the Tengiz field in western
Kazakhstan with the Russian port of Novorossiisk on the Black Sea coast
will be officially launched on Friday in the Kazakh city of Atyrau.
The project will allow Kazakhstan to double the amount of oil exported
via Russia.
The project which was several times delayed because of investment
disagreements among CPC stockholders will raise the annual carrying
capacity of the pipeline from 28.2 million tons to 67 million tons while
Kazakhstan will up deliveries from current 27 million tons to 52 million.
The project envisages modernization of existing pumping stations, the
construction of eight new ones in Russia and two in Kazakhstan, six oil
storage tanks in Novorossiisk and a new seaport terminal. An 88-km long
pipeline section on the Kazakh territory will be replaced. The project is
scheduled to start up in 2015.
CTC stockholders comprise Russia's Transneft (24 percent), CPC Company
(7), Kazmunaigaz of Kazakhstan (19), Kazakhstan Pipeline Ventures LLC
(1.75), Chevron Caspian Pipeline Consortium Company, LUKARCO B.V., Mobil
Caspian Pipeline Company, and others.
Russian Energy Minister Sergei Shmatko and Kazakh Oil and Gas Minister
Sauat Mynbayev will attend the ceremony.
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