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CPC plans to pump 66 mln metric tons of oil over pipeline system in 2023 — Deputy CEO

Capital expenditures of CPC will surge by 1.9 times this year to $88.1 mln from $46.6 mln a year earlier

MOSCOW, April 5. /TASS/. The Caspian Pipeline Consortium plans to pump about 66 mln metric tons over its pipeline system in 2023, Deputy CEO Kayrgeldy Kabyldin told reporters on Wednesday.

"In 2023, CPC is ready to honor all nominations of shippers to the full degree. We forecast that volumes of transportation over the pipeline system will be about 66 mln metric tons of oil," the senior manager said. CPC is ready to receive higher nominations of shippers after completion of main efforts influencing the increase of the throughput capacity.

"The CPC crude oil pipeline system capacity expansion project completed in 2017 and the debottlenecking program underway now make possible to transport about 72.5 mln metric tons of oil per year from the Kazakh territory and up to 83 mln metric tons of oil through the Russian Federation. This has already provided the consortium with a sizable capacity surplus making possible to meet all nominations of shippers, and we therefore do not plan so far any further increase of the Tengiz - Novorossiysk pipeline capacity," Kabyldin noted.

Capital expenditures of CPC will surge by 1.9 times this year to $88.1 mln from $46.6 mln a year earlier, the senior manager said.

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