CPC plans to replace two SPM units in 2026, expects to sign supply contracts by May (Part 2)The Caspian Pipeline Consortium (CPC) confirms plans to replace two single point moorings (SPM) in 2026."I confirm for 2026 that we must replace two berthing devices that have come within the deadlines that have already been extended once. Another extension is no longer possible," CPC CEO Nikolai Gorban said at a press conference."Therefore, we are currently in active negotiations, and we are already at the stage of signing a contract for the supply of two fully equipped SPMs by 2026, and their further replacement and installation," Gorban said.Gorban said that the CPC expects to sign the contract by May of this year for anticipated delivery of the SPMs at the end of 2025, though he has not named the contractor and/or manufacturer.The CPC pipeline connects the oilfields in western Kazakhstan and the Russian oilfields on the Caspian Sea shelf with the marine terminal in Novorossiysk. The CPC operates the Tengiz-Novorossiysk pipeline, which is 1,511 kilometers long with capacity to pump 67 million tonnes of crude per year. The pipeline is the main export route for Kazakh oil, accounting for more than 80% of the country's oil exports.The CPC shipped 63.47 million tonnes of oil for export in 2023.CPC's shareholders are the Russian Federation with 31%, with Transneft (MOEX: TRNF) managing 24% and 7% on the balance sheet; KazMunayGas with 19%; Kazakhstan Pipeline Ventures LLC with 1.75%; Chevron Caspian Pipeline Consortium Company with 15%; Lukoil International GmbH with 12.5%; Mobil Caspian Pipeline Company with 7.5%; Rosneft-Shell Caspian Ventures Limited with 7.5%; BG Overseas Holding Limited with 2%; Eni International N.A. N.V. S.ar.l. with 2%; and Oryx Caspian Pipeline LLC with 1.75%. (ICE ALMATY)

Fonte notizia: INTERFAX