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The Project is designed to increase the trunk pipeline capacity

SPIEF-2022 New Cooperation Agreement Between CPC and Stavropol Krai

20220616-1.jpgOn 16 June 2022, at the XXV St. Petersburg International Economic Forum (SPIEF-2022), Nikolay Gorban, General Director of Caspian Pipeline Consortium, and Vladimir Vladimirov, Stavropol Krai Governor, signed a new five-year Cooperation Agreement between the Consortium and the Region.

Like the previous similar document in effect since 2017, the new agreement is aimed at strengthening the long-term partnership. Based on the principles of mutually beneficial cooperation, the parties intend to develop the industrial and transport infrastructure of Stavropol Territory and the Consortium’s facilities, strengthen the financial and economic position of the Region and the investment climate in the Krai.

20220616-2.jpgOne of the key points in the Agreement is CPC readiness to continue to actively support the development of Stavropol Krai social sphere in the fields of education, health care and culture and to implement charity programs and projects for the benefit of the Krai’s people.

Caspian Pipeline Consortium makes a significant contribution to the social and economic development of Stavropol Krai. In 2019, 2020 and 2021 CPC's tax payments to the Regional budget amounted to about 6 billion rubles. In 2021, about 83 million rubles were invested in various charity projects within the Krai.

“For many years CPC has been closely cooperating with Stavropol Administration, participating in the progressive development of the Krai's social infrastructure. The new Agreement will make it possible to continue this systematic work for the benefit of residents and implement new charitable projects”, - pointed out CPC General Director Nikolay Gorban.

“Over the many years of our cooperation, CPC-R has established itself not only as a reliable partner, but also as a representative of socially responsible business. The Company is actively involved in Stavropol Krai’s life - opens new facilities, assists in development of medical and educational industries. During CPC-R's presence in our Krai, dozens of medical equipment units, ambulances and school buses have been purchased, clinics and outpatient clinics have been opened. I am confident that out cooperation, also in the social sphere, will be as fruitful as before”, - said Stavropol Krai Governor Vladimir Vladimirov.

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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%.