Kazmunaygas, CPC Discuss Progress Of Oil Pipeline Modernization
Date
6/20/2024 2:18:49 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, June 20. KazMunayGas (KMG,
Kazakhstan's national oil and gas company) and the Caspian Pipeline
Consortium (CPC) have discussed the progress of modernizing the
Tengiz-Novorossiysk oil pipeline, Trend reports.
Negotiations on this topic took place between the Chairman of
the Board of KMG, Askhat Khassenov, and the General Director of
CPC, Nikolay Gorban.
The parties reviewed current issues of the Consortium's
activities, including the programs implemented by the company to
modernize and improve the reliability of the Tengiz-Novorossiysk
pipeline system facilities, as well as long-term plans for loading
the CPC system.
Gorban informed the interlocutor about the results of CPC
activities for five months in 2024 and the immediate plans of the
oil transportation company, including dividend payments to CPC
shareholders.
Moreover, the parties discussed the implementation by the
Consortium of the Bottleneck Elimination Program (BEP), aimed at
increasing the throughput of the Tengiz-Novorossiysk oil pipeline
to 83 million tons per year, as well as the issue of replacing two
systems of remote mooring devices for CPC-R in 2026.
To note, the CPC pipeline system is one of the largest
investment projects in the energy sector, with the participation of
foreign capital in the CIS. It is unique in its own way, especially
in light of the current political and economic situation in the
region and around the world.
The length of the Tengiz-Novorossiysk oil pipeline is 1,511 km.
More than two-thirds of all Kazakh oil exports, as well as raw
materials from Russian fields, including those located in the
Caspian Sea, are transported along this route.
MENAFN20062024000187011040ID1108351840
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.