On August 02, 2017, CPC General Director Nikolay Gorban and Chairman of the CPC-K Board, Kazakhstan Pipeline Ventures Director General Timur Rakhanov met at the Kazakhstan Pipeline Ventures office in Atyrau.
During the meeting, CEOs of the companies discussed the progress of the CPC Expansion Project completion, as well as the timing of facilities completion. It should be noted that Kazakhstan Pipeline Ventures is one of the shareholders in Caspian Pipeline Consortium and a Project Management Company for the CPC Expansion Project in Kazakhstan.
About CPC:
The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of Tengiz-Novorossiysk pipeline is 1,511 km; more than two thirds of all export crude oil from Kazakhstan and crude oil from the Russian fields, including those in the Caspian Region, are transported by this route. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor 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%.