Kazakhstan, Astana, Dec. 25 / Trend A.Maratov /
The tariff for transporting oil via the Caspian Pipeline Consortium (CPC) is $ 38 per ton and the price is not expected to be increased, the Kazakh national Company KazMunayGas (KMG) reported.
"The tariff for oil transportation via the CPC has been agreed with the CPC shareholders at $ 38 per ton and its increase is not expected," the report reads.
The Final Investment Decision (FID) to expand the CPC pipeline mechanical capacity to 67 MTPA was passed in Moscow on. Dec.15. Currently, the pipeline's capacity is 28 million tons per year.
The Decision defines all parameters of the Project: from financial, economic and Project Implementation Schedule to the HSE parameters. Construction is to begin in spring next year. Expansion is envisaged in three phases while completion of the Project is planned for 2014.
KMG reported that today the oil production growth in Kazakhstan is ahead of the development of the export pipeline capacities in the region, so the relevance of increasing the capacity of the CTC is obvious.
The company reported that the CTC has been working at its capacity over the past few years.
In 2009, the pipeline transported 34,574 million tons and in January-November of 2010 the figure hit 31. 712 million tons compared to 31.577 million tons for the same period last year.
CPC Expansion Project cost will amount to $5.4 billion. The main source of funding for the project will be own funds of the CTC.
CPC Expansion Project envisages construction of ten additional pumping stations (two - on the territory of Kazakhstan, eight - Russia), six crude oil storage tanks near Novorossiysk and the third point mooring in the Marine Terminal CTC and the replacement of 88-mi kilometers of pipeline in Kazakhstan.
CPC Shareholders: Russian Federation (represented by Transneft - 24% and CPC Company - 7%) - 31%; Republic of Kazakhstan (represented by KazMunaiGaz - 19% and Kazakhstan Pipeline Ventures LLC - 1.75%) - 20.75%; Chevron Caspian Pipeline Consortium Company - 15%; LUKARCO B.V. - 12.5%; Mobil Caspian Pipeline Company - 7.5%; Rosneft-Shell Caspian Ventures Limited - 7.5%; BG Overseas Holding Limited - 2%; Eni International N.A. N.V. - 2%; and Oryx Caspian Pipeline LLC - 1.75%.