CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

SPIEF-2021: Shareholders are Satisfied with CPC Performance

20210603-1.jpgOn June 3, 2021, as part of the St. Petersburg International Economic Forum (SPIEF-2021), the management of Russian companies - CPC Shareholders had a meeting at the exhibition stand of LUKOIL. It was attended by Transneft President Nikolai Tokarev, LUKOIL President Vagit Alekperov, CPC General Director Nikolai Gorban and other executives of these companies.

The results of CPC operations in 2020 and the first five months of 2021, the progress of the Debottlenecking Program and other issues were discussed at the meeting. The executives of Shareholders expressed their satisfaction with CPC performance and the dynamics of its development.

Transneft, which controls 24% and directly owns 7% of CPC shares, was primarily engaged in the construction of the Tengiz-Novorossiysk pipeline system.

LUKOIL is both a CPC Shareholder (12.5%) and a supplier of Caspian crude produced at the Yu. Korchagin and Filanovsky fields to the Tengiz-Novorossiysk pipeline system.

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The CPC Pipeline System is one of CIS largest energy investment projects that involves foreign capital. The length of the Tengiz – Novorossiysk pipeline is 1,511 km. This route moves over two thirds of all Kazakhstan export oil along with crude from Russian fields including those in the Caspian region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM), allowing tankers to be loaded safely at significant distance offshore, including in poor weather conditions

CPC Shareholders: Federal Agency for State Property Management represented by Transneft (trustee) – 24%, CPC Company – 7%, KazMunayGas – 19%; Kazakhstan Pipeline Ventures LLC – 1.75%, 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%.