CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

CPC General Director’s Business Meeting with Representative of the Management of the Republic of Kazakhstan National Bank

A business meeting between Nikolay Gorban, General Director of Caspian Pipeline Consortium (CPC), and Oleg Smolyakov, Deputy Chairman, Republic of Kazakhstan National Bank (RKNB), was held on April 6, 2017 in Almaty. CPC delegation also included Timur Rakhanov, CPC-K Board Chairman, Kazakhstan Pipeline Ventures General Director, and Kairgeldy Kabyldin, Deputy General Director, RK Government Relations.

Since 2015 Joint Stock Company “Caspian Pipeline Consortium-K” (CPC-K) has been recognized as one of the major taxpayers within Kazakhstan, and its contribution to the Republic’s economy constantly keeps growing. Thus, as a result of the 2015 financial activities the total taxes paid by the Consortium to the Republic of Kazakhstan budget amounted to KZT 9,877,501 thousand, in 2016 - KZT 21,150,462 thousand. 
In the first quarter of 2017 USD 28.2 Million were paid as part of the debt repayment to CPC-K Shareholders.
The Consortium fulfills all its financial commitments in a timely basis and in full in respect of tax payments within the RK: corporate income tax (CIT), withholding tax, property tax, etc.
Close cooperation has been established between the Consortium and the Republic of Kazakhstan Tax Authorities at both regional and Republican levels. Meetings between the Consortium’s Management and Management of the Atyrau Oblast State Revenue Department and Management of the Republic of Kazakhstan State Revenue Committee are conducted on a regular basis to discuss routine issues. 
At today’s meeting of CPC General Director Nikolay Gorban with representatives of Kazakhstan National Bank Management the Consortium’s strong contribution to development of the stable payment balance in the Republic was noted as being an important condition for the Republic’s steady economic development.
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%.