On November 10 a working meeting between the CPC General Director N. Brunich and the Stavropol Region Governor V. Vladimirov was held in the CPC Moscow office. The participants discussed further cooperation on key issues and the preparation of an additional cooperation agreement.
At the beginning of the meeting the CPC General Director N. Brunich congratulated V. Vladimirov with winning the elections, stating that the regional administration could always count on CPC’s help in the CPC host regions.
- We have achieved a really high level of mutual understanding. Together we quickly solve all issues as they arise, noted N. Brunich.
He reminded that in close cooperation with the region’s administration CPC had solved, in record time, the land allocation issues related to the 70 km power line. And it was just one example.
In his turn the Governor thanked CPC for caring for common people resident in the region and providing significant assistance to it.
- People see how much the consortium is doing. Cooperation with the oil pipeliners results in concrete useful community-related facilities containing all necessary equipment, said V. Vladimirov.
In the course of the discussion N. Brunich informed the governor that a CPC Board meeting might be arranged to be held in Stavropol early next year. The event will bring together the 11 CPC shareholders representing the world’s leading oil & gas companies who will be pleased to expand their knowledge of this region of Russia.
CPC pipeline system is one of the largest investment projects in the energy industry with participation of foreign capital on the CIS territory. The length of the pipeline connecting the oil fields in Western Kazakhstan with the Marine Terminal near Novorossiysk is 1,511 km. CPC Marine Terminal is equipped with single point moorings which allow for safe tanker lifting at a considerable distance from the shore, also when the weather conditions are unfavorable.
The Expansion Project includes rehabilitation of 5 existing and construction of 10 additional pump stations (2 in the Republic of Kazakhstan and 8 in the Russian Federation), six new storage tanks (100,000 cu.m each) in addition to the existing four near Novorossiysk and a third SPM at the CPC Marine Terminal, and also the replacement of an 88 km pipeline section in Kazakhstan with a larger diameter pipe. The total amount of the Project investments will be US$ 5.4 billion.
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%.