On December 10, 2019, the working meeting of Nikolay Gorban, CPC General Director, and Vladimir Vladimirov, Stavropol Krai Governor, took place. The parties discussed the cooperation of the international company with the region under the effective Cooperation Agreement.
The Consortium General Director congratulated Vladimir Vladimirov on his re-election to the post of Governor, noting the high support of the regional government by local residents demonstrated during the last elections, which is undoubtedly due to the dynamic development of the region, its social infrastructure and improvement of living standards of Stavropol Krai residents.
Speaking about the prospects of cooperation, the CPC CEO stated that CPC plans to allocate at least 70 million rubles to the development of the social sphere of the region in 2020. CPC tax payments to the Stavropol Krai budget will reach 2 billion rubles by the end of this year.
In his turn, the Krai Governor thanked Caspian Pipeline Consortium represented by Nikolay Gorban for long-term mutually beneficial cooperation: “All these years CPC has been a reliable partner to Stavropol Krai and we are glad that our cooperation continues in a fruitful way.”
Specific focus areas of CPC social investments in the region for 2020 will be jointly determined by the CPC management and the regional Administration in the nearest future.
CPC Pipeline System is one of the major investment projects in 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. 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: CPC Shareholders are Russian Federation (represented by Transneft – 24% and CPC Company – 7 %) – 31%; Republic of Kazakhstan (represented by KazMunayGas – 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%.