CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

TASS: CPC is not planning to raise the tariff for oil shipments via its system - general director

SPIEF: CPC-TARIFF-REVISION

CPC is not planning to raise the tariff for oil shipments via its system

ST. PETERSBURG, 4 June /TASS/ CPC is not yet planning to raise the tariff for oil shipments via its pipeline system. The current tariff will be sufficient for execution of investment projects and dividends, CPC general director Nikolay Gorban told TASS on the sidelines of the St. Petersburg International Economic Forum.

“This issue has never been raised in the course of regular discussions with our shareholders. We agree with them that there is no need for that, he said, answering the question whether any growth in CPC shipment tariffs was being planned.

“The existing tariff is quite sufficient to support the company’s business, including potential investments into an expansion, a charity program and, as you can see, even for dividend payments”, he added.

CPC is to pay the first dividends to its shareholders in the total amount of $665 mln in 2021.

About CPC

CPC is a pipeline system connecting Kazakhstan with a seaport near Novorossiysk, where tankers are loaded with oil for the supply to global markets. The 1,511 km long pipeline links oilfields in Western Kazakhstan with a marine terminal in Novorossiysk. CPC Marine Terminal is equipped with single point moorings that allow loading tankers safely at a significant distance offshore, also amid poor weather conditions. ​