Caspian Pipeline Consortium-R Board of Directors and Caspian Pipeline Consortium-R and Caspian Pipeline Consortium-K Extraordinary Shareholders Meetings were held on November 26–27, 2019 in Moscow.
Nikolay Gorban, CPC General Director, reported on operations of the Consortium, including HSE aspects. The General Director stated that CPC personnel and its contractors had achieved the milestone of 10 million hours worked without recordable injuries and incidents and 20 million km driven without recordable MVAs from the beginning of this year through November 1.
CPC Marine Terminal in Novorossiysk loaded 56.1 million tons between January 1 and November 24, 2019, which is 1.6 million tons higher than the year before. CPC processed 529 tankers over the same period, which is 32 tankers more than the same period in 2018.
The members of the Consortium Governance Bodies were presented with reports on CPC Reliability Steering Committee activities and Debottlenecking Program progress. Shareholders reviewed operational, crude movement issues and financial performance; CPC-R and CPC-K Board of Directors members were reelected.
The CPC Pipeline System is one of the major investment projects in the energy sector with participation of foreign capital in the CIS. The length of the Tengiz–Novorossiysk Pipeline is 1,511 km; it transports over two thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including the Caspian Region. The 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% и Oryx Caspian Pipeline LLC – 1.75%.