Representatives of Russia’s and Kazakhstan’s Ministries of Energy, CPC Shareholders and Management, Regional authorities and local administrations, Consortium’s specialists and its contractors took part in the function.
The main results of the grand projects were summarized and awards of the Russian Federation and Republic of Kazakhstan Ministries of Energy were handed over to those who particularly contributed to the collective success.
Addresses to the attendees were delivered by Anatoly Yanovsky, RF Deputy Minister of Energy, Bolat Akchulakov, RK Vice Minister of Energy, CPC Shareholders’ representatives, in particular, Nikolay Tokarev, Transneft Board Chairman and President. As he pointed out, it would be hard to overestimate the political and economic significance of CPC Expansion Project, which confirmed that Kazakhstan was one of the major centers of the world oil production and Russia was a reliable partner in Kazakhstan crude oil transportation to the world markets.
James Johnson, Chevron Executive Vice President, Upstream, emphasized the importance of international cooperation and common interest of all parties in successful implementation of Project.
CPC General Director Nikolay Gorban expressed his deep gratitude to everyone involved in the implementation of the Expansion Project. “Our joint effort brought the Project to fruition and this success was contributed to by the absence of indifference with each person striving for the result within his or her area of responsibility sparing neither effort nor personal time”, - he stated.
The Expansion Project resulted in increasing the throughput capacity of the Tengiz-Novorossiysk pipeline from 28 MMT to 67 MMT per year. As a reminder, the Project was launched in 2011 when construction work started simultaneously at 22 sections of the crude pipeline system in the Russian Federation and Republic of Kazakhstan. And on April 18, 2018, the last Expansion Project Pump Station - PS-2 in Kalmykia - was put into permanent operation.
FYI:
CPC Pipeline System is one of the major investment projects in energy sector with participation of foreign capital in the CIS. The length of the Tengiz–Novorossiysk Pipeline is 1,511 km; it transports over two thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including the Caspian Region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor 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% и Oryx Caspian Pipeline LLC – 1.75%.