CPC to set up production of components for single point moorings in Russia

MOSCOW. July 26 (Interfax) - The Caspian Pipeline Consortium (CPC) plans to organize production of components for second single point moorings (SPM) in Russia, the company's CEO, Nikolai Gorban said.

"Spare parts for SPMs will be designed and manufactured in Russia. The design documentation is now being developed and we expect to receive it soon," Gorban told reporters.

He also said the company will replace SPM-1 and SPM-2 at its marine terminal on the Black Sea in 2026 as they have been in service for more than 20 years. SPM-3, which went into operation in 2014, does not need to be replaced, he added.

"We forecast that within this timeframe we will be able to organize production of the necessary components for SPM assemblies and the body itself in Russia. Fulfilling these goals is a serious challenge for us and we are confident that we'll manage," Gorban said.

CPC's terminal in Novorossiysk has three SPMs that enable the company to safely load oil onto tankers at a significant distance from shore, about 5 kilometers, including in bad weather.