CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

Meeting of the CPC-R Board of Directors and Annual General Shareholder Meetings of CPC-R and CPC-K

On May 29-31, 2018, a meeting of the Board of Directors of Caspian Pipeline Consortium-R and Annual General Shareholder Meetings of Caspian Pipeline Consortium-R and Caspian Pipeline Consortium-K took place.
Traditionally, the meeting of the Consortium’s governance bodies was opened with a General Director’s report on the Company business and results achieved in the sphere of Health, Safety and Environment.
In the course of the report, CPC General Director Nikolay Gorban informed the meeting that the Consortium’s main operational index grew by the record figure of 24% in 2017: the quantity of crude oil transported by the CPC pipeline system reached 55.1 MMT which is more by 10.8 MMT than the same index of 2016 when 44.3 MMT of crude oil were lifted from the CPC Marine Terminal.
The growth of the CPC base business indices became attainable due to the implemented Expansion Project of Tengiz-Novorossiysk Pipeline System and commenced commercial operation of the new crude oil fields: Kashagan Fields in Kazakhstan and Filanovsky Fields in Russia.
Just in 2017, CPC put into operation six new pump stations: A-PS-4A and A-PS-5A in Astrakhan Oblast, PS-8 in Krasnodar Krai, PS-5 in Stavropol Krai, A-PS-3A in Kazakhstan and PS-2 in Kalmykia. 
It was also noted at the meeting that 24.1 MMT of crude oil were lifted from the CPC Marine Terminal from January 1 through May 25, 2018, with involvement of 218 tankers. All in all, the Company plans to load 650 tankers this year.
The governance body members also listen to a report on the prospects of further development of Tengiz-Novorossiysk Pipeline System.
The Shareholders reviewed and approved the annual finance reporting of CPC-R and CPC-K for 2017. The new membership of both Companies’ Boards of Directors were also elected.
FYI:
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 in 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%.