CHATSWORTH, Calif., May 23, 2011 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation ( www.capstoneturbine.com ) (Nasdaq:CPST), the world's leading clean-technology manufacturer of microturbine energy systems, today announced it recently secured an order from its Russian distributor BPC Engineering for sixty C30 units to be installed along a new pipeline being built in Kazakhstan.
The 1,475 km Beineu – Bozoy – Shymkent gas pipeline will provide energy security and reliability of gas supply of the southern regions of Kazakhstan, through shipments of gas from fields in the country's western regions. The pipeline will run along the Mangystau, Aktobe, Kyzylorda and South Kazakhstan regions and will interconnect with the first stage of the Kazakhstan – China Pipeline, which runs 1,300 km from the Uzbekistani and Kazakh border to Khorgos, China.
Construction of the pipeline will be implemented in two phases. The first phase will involve the construction of 1,164 km of the linear part of the pipeline from Bozoy – Shymkent and a compressor station near Bozoy and be completed during 2011 and early 2012. The second stage of the project, anticipated to be completed from 2014–15, consists of the 311 km section of pipeline from Beineu –Bozoy that will be constructed along with a compressor station in Karaozek. An additional 26 branches will be constructed from the Beineu – Bozoy – Shymkent mainline during the first and second phases of the project to supply settlements along the pipeline route.
"The gas industry in Kazakhstan is young with large reserves of natural gas which should allow Kazakhstan within a relatively short term period of time to change the structure of the country's fuel mix in favor of gas," stated Alexander Skorokhodov, Chief Executive Officer of BPC Engineering.
"BPC has installed Capstone microturbines at remote sites all over Russia for years because the microturbines are highly reliable and provide customers a low total cost of ownership," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "BPC has a stellar track record within the Oil and Gas markets and continues to be one of Capstone's largest and most successful distributors," added Crouse.
"A growing number of oil and gas producers around the world are selecting Capstone microturbines for prime power, as well as combined heat and power applications," stated Darren Jamison, Capstone's President and Chief Executive Officer. "Within the past year, we've received a record number of orders from oil and gas companies both in the U.S. shale market and abroad for wellhead sites, compressor stations and offshore oil platforms."
About Capstone Turbine Corporation
Capstone Turbine Corporation ( www.capstoneturbine.com ) (Nasdaq:CPST) is the world's leading producer of low-emission microturbine systems, and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped over 5,000 Capstone MicroTurbine(R) systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the New York Metro Area, Mexico City, Nottingham, Shanghai and Singapore.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about opportunities in the gas industry in Kazakhstan, high reliability and low total cost of ownership of our products, the success of BPC as our distributor and our success in the oil and gas industry. Forward-looking statements may be identified by words such as "expects," "objective," "intend," "targeted," "plan" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
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