CPC General Director Nikolai Brunich on March 31 met with Astrakhan Region Governor Alexander Zhilkin. They discussed issues around progress of the Expansion project in the region, prospects for cooperation in the social area, and had the introduction of a new Central Region Manager, Ivan Sharay. The meeting was also attended by Deputy General Director for Russian Government Relations Leonid Bokhanovskiy.
During the meeting Alexander Zhilkin awarded Nikolai Brunich with a Medal of the Order of Merit for the Astrakhan region. He thanked the consortium represented by the general director for a great contribution to the development of the Astrakhan Region, stating that CPC, as a good corporate citizen, had for years been providing some real assistance to improvements in social, education, health and other aspect of life in the region and its districts crossed by the pipeline.
The day before the new regional manager had been introduced to the Central Region team in the CPC office.
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%