On 26 November 2021, Caspian Pipeline Consortium paid next tranche of dividends to the Company’s Shareholders in accordance with the Board of Directors’ Resolution.
The total dividends paid earlier in 2021 amount to $830 mln. As the tranche of 26 November 2021, $288 mln were distributed to CPC Shareholders in compliance with the RF withholding tax legislation.
CPC Finance Policy provides for quarterly accrual of dividends on the Company shares. Payout amount basis is determined by the Company profit less OPEX and CAPEX, as well as any existing new major projects. The Debottlenecking Program, which is being currently implemented, allows CPC to pay dividends in the amounts agreed upon with the Shareholders.
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%.