CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

A new Agreement for Social and Economic Cooperation was signed between CPC and Astrakhan Oblast

20190808-1.jpgOn August 8, 2019, CPC General Director Nikolai Gorban and Igor Babushkin, Alternate Governor of Astrakhan Oblast, signed an Agreement between the Consortium and Region’s Administration for social and economic cooperation. The document is aimed at further development of the interaction in both industry and social partnership.

The Agreement priority objectives include support to continuous and accident-free operation of the Tengiz-Novorossiysk trunk crude pipeline in Astrakhan Oblast; implementation of the Debottlenecking Program aimed at further upgrade and increase of the throughput capacity of CPC crude pipeline; further development and enhancement 20190808-2.jpg

of the functional efficiency of Astrakhan Oblast industry, transportation and other branches of economy and the Consortium’s facilities.

CPC will continue its active support to the Oblast’s social sphere and implementation of programs supporting the most vulnerable population.

- It is envisaged that the mutually beneficial cooperation between the Consortium and Oblast will develop dynamically in the priority directions, such as education, health care, culture and sports. New kindergartens, supply of state-of-the-art equipment to hospitals and rehabilitation centers, renewal of ambulances and municipal and school transport are a clear example of the multi-year cooperation in those spheres, - pointed out CPC General Director Nikolai Gorban after the document signing ceremony.

From 1998 to 2018, CPC invested over a Billion Rubles in the charity projects on the territory of Astrakhan Oblast. In 2014-2018, the Consortium allocated nearly RUR 160 mln to support regional health case services alone. Acquisition of a CT unit for N. Silischeva Regional children’s clinical hospital, an angiographic unit for Alexander and Maria regional clinical hospital and ambulances have become the most significant projects in that sphere. On top of that, in 2017-2018, CPC built three kindergartens and furnished them with all necessary equipment in the settlements of Baibek, Starokucherganovka and Kharabali.

For reference.

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%.