Source Pravda.Ru

Caspian Pipeline Consortium to double its flow capacity

In August 2002, the Caspian Pipeline Consortium (KTK) is planning to double its flow capacity to 2.2 million tons of oil per month, the press service of the concern reported. The KTK pipeline system currently transports over 1.1 million tons of oil per month. The sea terminal of the consortium has already completed shipping its six millionth ton of oil to the 60th tanker since it started operating in October 2001. After the opening of two pumping stations in Kazakhstan and Russia planned for July 2002, the flow capacity of the pipeline will be doubled. It is expected that after a pumping station is installed in the Kalmyk Republic (the South Russia), KTK will reach its full initial capacity of 28 million tons of oil per year. In future, KTK may increase its capacity up to 68 million tons of oil per year. KTK majority shareholders are Russia (24 percent), Kazakhstan (19 percent), Oman (7 percent) and a number of private international oil companies and joint ventures with the participation of LUKoil and the Rosneft oil company.


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