OREANDA-NEWS. August 26, 2010. Caspian Pipeline Consortium to allot USD 4.6 bn to pipe modernization by 2014. The shareholders of Caspian Pipeline Consortium (CPC) are to allocate USD 4.6 bn to expansion of the pipe throughput by 2014, CPC general director, Alexander Tarakanov said. “I expect it to be USD 4.6 bn and do not suppose we will fall outside the set limit.

The issue is to be fully clarified by the end of the year”, Tarakanov said. In 2012-2013, he added, CPC shareholders may need to resort to credit resources worth nearly USD 1 bn. The consortium is set to repay the debt and expects investments to pay back by 2018-2019. CPC operates the only private pipeline in Russia; its shareholders are the Russian government (31%), the Kazakh government (20.75%) and a syndication of private companies led by Chevron.