On June 1, 2017 Caspian Pipeline Consortium and Krasnodar Krai Administration signed a cooperation agreement. The document was signed at St.Petersburg International Economic Forum (SPIEF 2017) by CPC General Director Nikolay Gorban and Krasnodar Krai Governor Veniamin Kondratiev.
The executed agreement allows to successfully develop cooperation between the parties, strengthen financial and economic potential and investment attractiveness of Krasnodar Krai, contributes to social stability and improvement of population welfare in the Region. The Consortium will continue active implementation of large-scale social programs and provision of charity aid in the Krai.
In accordance with the signed document, it is planned to implement projects to support education, health care, popular sport, culture and provision of targeted aid to disadvantaged social groups.
For the record, in the course of cooperation between the Consortium and Krasnodar Krai in 1998-2016 CPC allocated about 1.4 Billion Rubles to the Region for charities.
For reference.
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%.