CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

EEC Minister and President of Oil/Gas Corporation “Chevron” reviewed the CPC expansion effects

On 5 April in Moscow in the course of a working meeting Member of the Board (Minister) for Energy and Infrastructure of the Eurasian Economic Commission Danil Ibraev and President of Oil/Gas Corporation “Chevron” reviewed the CPC expansion effects.

Danil Ibraev explained the main objectives, tasks and principles of the formation in the Eurasian Economic Union (EEU) of common markets of crude oil and oil products. At that, he noted an important role of CPC in the oil market and its significant contribution to the development of energy cooperation between the Union countries. According to him, this is one of the major foreign-invested energy projects. “Within the framework of creating common markets of crude oil and oil products, we create favorable conditions for implementation of joint projects”, underscored the EEC Minister.

Andrew McGrahan noted that the CPC Expansion Project provides for the oil pipeline throughput increase up 67 million tons, including the transportation of up to 52.5 million tons of Kazakhstan oil. It is intended to upgrade five current pump stations and to construct ten additional ones (two – in Kazakhstan, eight – in Russia), to build, as an addition to four current tanks, six new ones (100 thousand cu m each) for oil storage near Novorossiysk and a third single point mooring at the CPC Marine Terminal.

The meeting participants discussed the issues of the resource base and distribution of the throughput among the Shippers. In particular, it was noted that all activities of the Consortium, including the issues of access to the oil pipeline capacities, distribution of the throughput among the Shippers, transportation tariffs, are regulated by the Agreement on the Establishment of Closed Joint Stock Company “Caspian Pipeline Consortium-R” and Closed Joint Stock Company “Caspian Pipeline Consortium-K”.

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