On 21 January CPC General Director Nikolai Brunich and Novorossiysk City Mayor Vladimir Sinyagovski visited CPC's Marine Terminal Tank Farm where the construction of additional 100,000 cubic meter oil storage tanks is in progress. The construction is being done as part of the CPC Expansion Project.
During visit N. Brunich and V. Sinyagovski met with CPC and contractor personnel responsible for commissioning the tanks who gave them specific details about the facility. A meeting was held in the Main Control Center that controls oil transshipment and loading into tankers. Alongside with operational issues, some aspects of industrial and environmental safety of the new facilities were discussed. It was noted that all construction work was based on best international practices and strict compliance with Russian standards and regulations for industrial safety and environmental proteciton.
After the inspection of the Marine Terminal Tank Far, a working meeting was held where Nikolai Brunich and Vladimir Sinyagovski discussed issues related to further interfacing and cooperation prospects.
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%.