On June 2, 2017 in the course of the functions of St. Petersburg International Economic Forum - STIEF-17 negotiations were held between CPC General Director Nikolay Gorban and KazTransoil General Director Dimash Dosanov.
The Companies’ Heads discussed the prospects of cooperation in view of the increase of transportation volumes in CPC pipeline system up to 67 M tons of crude oil per year after completion of the Consortium’s Expansion Project.
The work under CPC Expansion Project is expected to be completed in the third - fourth quarters of 2017, and the Consortium will be able of systematically increasing lifting from CPC Marine Terminal (Yuzhnaya Ozereevka, Krasnodar Krai) provided the Shippers delivered the nominated volumes of crude oil to CPC System.
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%.