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Dividend distribution to the Shareholders (second tranche)


On 28 June 2021 Caspian Pipeline Consortium paid the second 4Q2020 dividends tranche to the Shareholders of the Company. USD 117 mln were distributed among the holders of CPC shares in compliance with the WHT legislation of the Russian Federation.

The total amount of the dividends for the said period is USD 665 mln. The first tranche of USD 548 mln was paid on 10 June 2021.

The first in the CPC history payment of dividends on Company shares became possible after full repayment of the Shareholder Loans in 2020, which evidences financial stability of the Company’s operations.

Decision on the 2Q2021 dividend payment will be made in accordance with the CPC internal procedures by the end of September 2021 together with approval of the payments schedule. The dividend amount will be recommended on the net profit of the Company.

CPC Dividend Policy provides for further quarterly accrual of dividends on the Company shares. Payout amount will be determined by the Company profit less OPEX and CAPEX, as well as any existing major projects.

For information:

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%.