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The Project is designed to increase the trunk pipeline capacity

On Court Ruling Change

Krasnodar Krai Court considered the appeal against the Ruling of Novorossiysk Primorsky District Court, which imposed an administrative penalty on JSC "Caspian Pipeline Consortium - R" under Part 4 Art. 14.1.2 of the RF CoAO in the form of administrative suspension of business for a period of 30 days.

Having reviewed the materials, heard the arguments of the parties, the court of appellate instance amended the District court's Ruling, assigning JSC Caspian Pipeline Consortium-R a penalty in the form of an administrative fine of 200,000 rubles. The Ruling came into legal effect.

For reference: CPC-R JSC is a business with pressing continuity, immediate suspension of its activity may lead to irreversible consequences for the operation process, emergence and development of an adverse and uncontrollable process at a technical facility, including its destruction, since the process requirements for oil transportation do not allow the immediate and simultaneous shutdown of operation.

Meanwhile, CPC is currently engaged in eliminating the findings revealed in the course of Rostransnadzor's findings in execution of Instruction No. ВА-П11-5574 of Viktoria Abramchenko, Deputy Chairman of the Russian Federation Government. The findings are planned to be eliminated as soon as possible.

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%.