A ceremony dedicated to 25 years of the Caspian Pipeline Consortium was held on 16 November 2021 in Nur-Sultan, Republic of Kazakhstan capital. It was attended by Kassym-Jomart Tokayev, Republic of Kazakhstan President, Alexander Novak, Deputy Chairman of the Russian Federation Government, Alexey Overchuk, Deputy Chairman of the Russian Federation Government, Nigel Hearne, President of Chevron Asia Pacific Exploration and Production, LUKOIL President Vagit Alekperov, Maksim Grishanin, Transneft First Vice President and CPC General Director Nikolay Gorban.
“Our country is among the largest oil exporters in the world. We currently produce up to 90 million tons of oil per year, The development of the oil and gas sector was particularly influenced by the construction of the Caspian pipeline system shipping Kazakhstani oil to export, - noted in his speech Kassym-Jomart Tokayev. - This project is of particular significance to me as I personally participated in the beginning of its construction and launching”.
Republic of Kazakhstan President also emphasized that the project implementation had given a powerful impetus to the development of such large fields as Tengiz, Karachaganak and Kashagan, which now account for 60% of the country's oil production.
“Overall, the Consortium is a key element of Kazakhstan's oil and gas complex, making a significant contribution to the country's economic development and the well-being of its citizens. Without any exaggeration, the CPC is a megaproject. I hope it has a long future”, - said Republic of Kazakhstan President.
“CPC Project is of particular significance to the Russian Federation in terms of boosting energy and transportation potential. For Kazakhstan, it has become one of the most important pillars of the national economy development, the optimal export route to the world energy markets," Vice Premier Alexander Novak said in his speech. - “Today, crude oil from more than 10 shippers enters CPC pipeline system. In total, over a quarter of a century, more than 750 million tons of oil have been delivered through the Tengiz-Novorossiysk pipeline system. At the same time, there are significant opportunities to bring new fields into the system”.
As part of the ceremony, Kassym-Jomart Tokayev, Republic of Kazakhstan President, handed state awards to CPC employees and veterans.
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%.