Transneft confirms crude pipeline will reach full capacity by 2015
OAO Transneft has confirmed that the Caspian Pipeline Consortium (CPC)’s crude pipeline that runs from northwest Kazakhstan to the Black Sea will reach full capacity by 2015.
Mikhail Barkov, a Vice-President at Russia’s state-owned pipeline operator explained at a recent press conference in Moscow, that the expansion is still dependent on whether fields being developed have started production. The pipeline’s output is to be increased to 67 million tpy, or 1.4 million bpd.
In its current form, the CPC pipeline carries roughly half of that volume of crude from Kazakh fields including Chevron Corp.-led Tengiz to a terminal close to the Russian port of Novorossiysk on the Black Sea. Barkov confirmed that the first phase of the expansion will be finished by Q4, 2013 - Q1, 2014. The expansion will add 10 million tpy, or around 210 000 bpd.
According to Barkov, the biggest corporate shareholder in the pipeline, Chevron with a 15% stake, is ready to fulfil the expanded first phase. Other shareholders in the project include Exxon Mobil Corp., OAO Rosneft, OAO Lukoil, Royal Dutch Shell Plc., and BG Group Plc and Eni SpA, which both operate the Karachaganak field that feeds into CPC.
The pipeline transports CPC Blend, a light, sweet or low-sulphur grade with a density of 44.2° on the American Petroleum Institute scale and a sulphur content of 0.53%.
Edited from various sources by Cecilia Rehn.
Read the article online at: https://www.worldpipelines.com/business-news/25012013/transneft_confirms_crude_pipeline_will_reach_full_capacity_by_2015/
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