CPC group approves doubling of oil pipeline capacity

摘要

Moscow-The Caspian Pipeline Consortium (CPC) December 15 approved the expansion of the strategic pipeline's capacity to 1.34 million b/d by 2014, but said the cost of the project had risen to $5.4 billion, a 17% increase on previous estimates. The final investment decision for the expansion of the oil route from Kazakhstan to the Russian port of Novorossiisk on the Black Sea was signed December 15 at a ceremony in Moscow.