The Caspian Pipeline Consortium (CPC) is moving ahead with a new capacity expansion programme, less than one year after completing a multi-billion dollar upgrade of its oil export pipeline running from the Tengiz oilfield in Kazakhstan to the Russian Black Sea port of Novorossiysk, writes Vladimir Afanasiev.
CPC executive director Nikolay Gorban was quoted as saying that the programme will require its shareholders, Russia, Kazakhstan and a group of international oil companies led by US supermajor Chevron, to invest $700 million between 2020 and the end of 2023.
