A press conference of Nikolay Gorban, General Director, Caspian Pipeline Consortium, was held on 13 August 2021 at CPC Marine Terminal. Federal and local mass media reporters from TASS, RIA Novosti, Interfax, Novorossiysk worker and others took part in it. The current situation at the Marine Terminal after containment and elimination of the emergency and the results of the Black Sea water area and coast monitoring were the key topic of the reporters’ meeting with CPC Management.
Before the press conference, the mass media reporters visited the Marine Terminal facilities, including the Single Point Moorings. An access to the Shore Facilities was arranged to the reporters and an opportunity of inspecting the water area and coast from a helicopter was provided for this purpose.
Giving answers to the reporters’ questions, Nikolay Gorban pointed out that the situation was back to normal, the air, water and shore near Novorossiysk were clean, that being confirmed by the results of Rospotrebnadzor’s samples and visual inspection of the territory by the regulatory authorities’ representatives.
CPC General Director indicated the probable cause of the failure of the SPM expansion joint - a hidden flaw due to the manufacturing defect. In this case, the expansion joint needs to be replaced, the Company is currently negotiating with potential suppliers of this equipment.
The incident which occurred on the 7th of August will impact neither CPC annual lifting plan, nor the Company’s dividend policy. The dividends for Q2 2021 will be determined at the next Board of Directors’ meeting in late September this year.
On the 7th of August, within an hour of the oil spill, an emergency operation center was deployed with involvement of the Emergency Ministry and Rosprirodnadzor’s representatives. Rosprirodnadzor and Russian Investigative Committee’s employees are currently working at the MT. CPC as a responsible, conscientious Company provide the necessary assistance. The inspection findings are expected to be made public next week.
The Company keeps monitoring the condition of the air and water in the water area and coastal areas with involvement of independent laboratories.
The CPC Pipeline System is one of CIS largest energy investment projects that involves foreign capital. The length of the Tengiz – Novorossiysk pipeline is 1,511 km. This route moves over two thirds of all Kazakhstan export oil along with crude from Russian fields including those in the Caspian region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM), allowing tankers to be loaded safely at significant distance offshore, including in poor weather conditions
CPC Shareholders: Federal Agency for State Property Management represented by Transneft (trustee) – 24%, CPC Company – 7%, KazMunayGas – 19%; Kazakhstan Pipeline Ventures LLC – 1.75%, 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%.