Caspian Pipeline Consortium shareholders to sign expansion deal

摘要

Moscow-Caspian Pipeline Consortium stakeholders have agreed on measures aimed at signing December 17 a long-awaited memorandum of understanding on the oil line's expansion, the CPC said November 26. The decision was made at an extraordinary meeting in Moscow, where stakeholders also approved the group's 2009 budget, the CPC said in a statement. The expansion of the CPC line, running from Kazakhstan across Russia to the Russian Black Sea port of Novorossiisk, has been under discussion for several years. The plan calls for the line's capacity to be increased to 67 million mt/year (1.34 million b/d) from the current 33 million mt/year.