News and analysis from Kazakhstan - Dec 04th 2008
energy
Expansion of CPC pipeline to be completed by 2012
(SRI) - Expansion of the Caspian Pipeline Consortium (CPC) pipeline capacity is to be completed by 2012, Kazakh Minister of Energy and Mineral Resources Sauat Mynbayev said at the Eurasian energy forum KazEnergy in Astana, Kazinform reports.
“The issue of expanding the annual capacity of the CPC from the current 32.9 mln tons of oil to 67 mln tons of oil has been discussed for a long time and now, in essence, has been resolved. On May 7th, 2008 a memorandum was signed between the Republic of Kazakhstan and the Russian Federation, and other key participants such as TransOil, KazMunai Gaz, Chevron, ExxonMobil and have approved the agreement. At the moment only procedural issues are left for consideration”, Mynbayev said.
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