KazMunayGas, CPC discuss progress of oil pipeline modernization

Kazakhstan Materials 20 June 2024 09:48 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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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.