CPC and Novorossiysk signed a cooperation agreement

On 25 January 2017, CPC General Director Nikolay Gorban and Novorossiysk Mayor Igor Dyachenko signed a cooperation agreement by and between CPC and this municipal entity. CPC Deputy General Director Mikhail Grishankov also attended the agreement signing ceremony that took place in the City Administration building.

The Parties agreed to continue their mutually beneficial cooperation on the stable and long-term basis. The agreement targets to develop and enhance the efficiency of Novorossiysk and CPC transport infrastructure, stabilize the financial and economic situation and improve the investment climate in Novorossiysk.

CPC will continue its active financial support of the city social sphere pertaining to culture, education, health care and programs for the most vulnerable strata of society.

“CPC has special relations with the city of Novorossiysk based on well-planned programs.  Every year our company jointly with the City Administration develops a budget for Novorossiysk social needs,” stated CPC CEO Nikolay Gorban. In 2017, CPC is planning to provide the charity support of RUR 70 million to this hero city. Over the whole period of cooperation CPC allocated more than RUR 700 million to Novorossiysk.

Novorossiysk Mayor Igor Dyachenko, in his turn, thanked Caspian Pipeline Consortium for its serious consideration of needs of Novorossiysk residents. 

On the same day the CPC management handed over 10 new commuter buses to Novorossiysk. Modern low-floor buses have everything necessary to ensure comfortable and safe transportation of passengers.

The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of the pipeline connecting oil fields in Western Kazakhstan with the Marine Terminal in Novorossiysk is 1,511 km. CPC’s Marine Terminal is equipped with Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, including bad weather conditions.

CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by Kazmunaygaz – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%; Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO B.V. - 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited - 2%, Eni International N.A. N.V. - 2% and Oryx Caspian Pipeline LLC – 1.75%.