CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

Meeting of CPC Corporate Governance Bodies

20210929.jpgCaspian Pipeline Consortium-R Board of Directors and Caspian Pipeline Consortium-K Extraordinary Shareholders Meetings were held on September 28–29, 2021, in Almaty, Republic of Kazakhstan.

Nikolay Gorban, CPC General Director, reported on operations of the Consortium, including HSE aspects. Shareholders reviewed crude movement issues and financial performance.

There have been no days away from work cases or MVAs in CPC or with its Contractors for the year to date.

Since the beginning of the year till mid-September, 41.2 M tons were lifted and 399 tankers were loaded at the Marine Terminal, which is down by 2.5% compared to the last year. Decrease in liftings is caused by lower volumes. In the first 8 months of 2021, system availability was over 98%.

Shareholders heard and discussed updates on the Reliability Steering Committee, Tengiz–Novorossiysk Pipeline bearing capacity and other matters.

Shareholders also reviewed the progress of the CPC Debottlenecking Program. FYI: the Tengiz–Novorossiysk Pipeline throughput capacity will increase almost up to 80 MTA by 2022 upon completion of the DBN Program.

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%.