A Meeting of CPC-R Board of Directors and an Extraordinary General Meeting of CPC-K Shareholders were conducted in Dubai (UAE) on 29-30 November 2022.
CPC General Director Nikolay Gorban reported on the Consortium’s business status, including HSE aspects. The report said that the oil loading from CPC Marine Terminal amounted to 49.8 million tons (51.8 million tons in the same period of 2021) as of November 15. From early 2022 through to mid-November, 448 tankers were processed in Yuzhnaya Ozereevka.
The Shareholders reviewed the progress of CPC Debottlenecking Program implementation. As a reminder: after its completion the Tengiz-Novorossiysk crude pipeline throughput capacity will be brought to 72.5 million tons to be pumped through Kazakhstan territory and to 83 million tons per year to be pumped through the territory of the Russian Federation.
The issues of CPC Marine Terminal’s current operation in the context of the replacement of the buoyancy tanks at the first and second Single Point Moorings of the Terminal were also reviewed. General Director Nikolay Gorban said that at the moment SPM-1 and SPM-2 were in a working state and were put back into service on 11 November 2022 and 29 November 22, respectively.
Hence, all three Single Point Moorings of CPC Marine Terminal are ready to support oil transshipment in standard mode.
In the course of the meeting, the Shareholders’ representatives from the Russian Federation, Republic of Kazakhstan, USA, Italy and the U.K. discussed in detail the availability of spare parts in stock and future deliveries of necessary equipment to support reliable and sustainable operation of all process and software elements of the Tengiz-Novorossiysk crude pipeline system and associated risks of stopping oil transportation caused by the absence of the aforesaid spares.
In the course of the meeting, CPC Governance Bodies reviewed the 2022 Budget performance and approved the 2023 Budget, the memberships of CPC-R and CPC-K Board of Directors were elected.
In addition, CPC Shareholders’ representatives listened to and discussed the updates on the Reliability Steering Committee’s activities and Tengiz–Novorossiysk Pipeline line bearing capacity.
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%.