Nikolay Gorban, General Director of Caspian Pipeline Consortium, visited the Republic of Kalmykia on March 15th where he inspected the Company’s operation facilities.
As part of his trip, Nikolay Gorban had a working meeting with Republic Head Alexey Orlov. The Parties discussed the ongoing matters of the interaction and confirmed the existing agreements implemented in accordance with the Cooperation Agreement signed in early March. As a reminder: the document provides for active interaction between the Consortium and the Republic for the purposes of further development and enhancement of efficiency of the Region’s industrial and transportation infrastructure and the Consortium’s facilities.
FYI:
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 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%.