Power CTC double

Shareholders of the Caspian Pipeline Consortium, excluding the British BP, currently in Moscow signed a memorandum on expanding the capacity of CPC pipeline to 67 million tons.The pipeline Caspian Pipeline Consortium – the only private pipeline passing through Russia from Kazakhstan’s Tengiza in Novorossiysk. Its length – 1510 km. In 2007, CTC had been transported to 32.6 million tons nefti.Stoimost expanding the pipeline is estimated at 2.5 billion dollars, but is projected to grow in the project could cost an additional $ 700 million – 1 billion doll.Reshenie the expansion of the pipe delayed VR (CTC owns 6.6% after two SP – with Lukoil and Kazmunaygazom), described the sale of its shares in konsortsiume.Chtoby to resolve the issue with the transport of oil, Russia does not rule out the pipeline, a parallel pipeline Tengiz – Novorossiysk. The second option, called the launch of bankruptcy procedures CTC’s (CTC’s debt at the end of September stood at $ 4.7 billion) because of inefficient project consortium decided to leave Oman, its share of the CTC (7%) for $ 700 million repurchased Russia. The locking share gives Russia the right to vote on all matters of implementation proekta.SP British Petroleum (BP) and NK “LUKOIL” – Lukarco not signed a memorandum on the expansion of the CTC, announced today after the signing ceremony of the memorandum head Lukarco – Representative LUKOYLA Osman Sapaev. But he stressed that the NK “LUKOIL” and supports a memorandum on behalf of the company he had signed a document today. At the same time, BP said that they are not direct shareholders of CTC and hold shares in the project through the SP Lukarco, so the company does not sign documents dolzhna.VR while still supports the project and is awaiting clearance in 2009. the final legal documents as a result of commercial negotiations with its partner in the JV Lukarco (shareholder CTC) – NK Company . At the same time, “the implementation of the memorandum will be in 2009. continue with the consent of BR. “design capacity pipeline system CTC is 28.2 million tonnes of oil, but actually the consortium may prokachivat by pipeline to 34 million tonnes a year by using special additives. Phasing bring capacity to 67 million provided for a feasibility study proekta.Dlitelnoe time shareholders CTC because of the position of VR could not resolve the issue of expansion of pipeline capacity. BP believes that the funds for the expansion should be involved in external markets, while others believe that it is necessary to fund the project from its own resources. Recently, BP has made a number of conditions, which is ready to support the expansion draft CTC, the primary among them – out of the project. Now it has 6.6% of the CTC in two joint venture with the Kazakh company, KazMunaiGaz “- Kazakhstan Pipeline Ventures (1,75% in the project) and Russia’s Lukoil – Lukarco BV (12,5% in the draft). In Kazakhstan Pipeline Ventures BP has 19% of Lukarco – 46%. In September, 2008. have information that BP may sell its share of CTC, it must first offer its share of joint venture partners. Exit from the draft BP may with the approval of all parties. According to the most BP, the company has already agreed to “KazMunayGazom” for the sale of its stake in the JV Kazakhstan Pipeline Ventures. Negotiations with Lukoil is still going on. AK Transneft reported that the shareholders of CTC does not exclude the likelihood after signing a memorandum of filing legal action against BP.Spravka.KTK – The Caspian Pipeline Consortium, operator of the pipeline Tengiz – Novorossiysk. Shareholders – Russia (31%), Kazakhstan (19%); the remaining 50% – from private companies (Chevron, Exxon, BP and others.).