At the XI Interregional «Future Growth Leaders” Forum of the Southern Federal District (SFD) major companies held on 14 September 2017, Caspian Pipeline Consortium became the winner in two nominations: “The Largest Transport Company of the SFD in 2016” and “The Most Profitable Enterprise of the SFD in 2016”.
It was noted at the Awards Ceremony that over the year the SFD transport sector indicators increased by the factor of seven with Caspian Pipeline Consortium being the leader with the 2016 net profit of RUR 64.8 bln.
As a reminder: CPC Expansion Project that will bring capacity of the system to 67 MTPA will be completed in 2017. To date, three pump stations have been upgraded and eight new pump stations have been built in the south of Russia; the last one is to be commissioned this autumn.
Expansion of the pipeline system capacity and commissioning of new facilities resulted in a significant increase of the taxes paid to the budgets of the regions where the Tengiz – Novorossiysk pipeline system is located. Another important social and economic development factor is stable employment for additional thousand or so highly qualified people at the CPC facilities.
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%.