CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

Cooperation Agreement between CPC and Stavropol Krai Signed

On January 26, 2017 Nikolay Gorban, General Director of Caspian Pipeline Consortium, and Vladimir Vladimirov, Stavropol Krai Governor, signed a Cooperation Agreement between the Consortium and the Region. Mikhail Grishankov, CPC Deputy General Director, Stavropol Krai Vice Governors, Ministers and Heads of Districts participated in the signing ceremony.
The document is aimed at strengthening the mutually beneficial partnership on a stable long-term basis. Further development and enhancement of the efficiency of industrial and transportation infrastructure in Stavropol Krai and the Consortium’s facilities, strengthening of financial and economic situation of the Region and improvement of the Krai investment climate will continue.
CPC commits to provide active financial support to Stavropol Krai social sphere in culture, education, health care and implement regular charity programs for the most vulnerable strata of society.
- Over the years of the long-term cooperation the volume of funds allocated by CPC to various charity and social programs in the Region has already exceeded RUR 600 million, - emphasized Consortium General Director Nikolay Gorban.
Stavropol Krai Governor Vladimir Vladimirov also pointed out to a high level of cooperation with the Caspian Pipeline Consortium and expressed his confidence that it would keep on developing during the entire period of CPC crude pipeline operation.
On the same day CPC General Director Nikolay Gorban and CPC Deputy General Director Mikhail Grishankov handed over 17 school buses to the citizens of Stavropol. Thus, the Consortium completed the delivery of 67 school buses acquired by CPC at the Krai Government’s request. Their total value amounted to more than RUR 130 million.
The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of the pipeline connecting oil fields in Western Kazakhstan with the Marine Terminal in Novorossiysk is 1,511 km. CPC’s Marine Terminal is equipped with Single Point Moorings that allow to load tankers safely at a significant distance offshore, including bad 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%.