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CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

Meeting at the RoK Ministry of Finance

On 13 January 2023, Dauren Kenbeil, Vice Minister of Finance of the Republic of Kazakhstan, and CPC General Director Nikolay Gorban held a meeting in Astana.

The parties discussed international cooperation on the Caspian Pipeline Consortium Project and the stability of CPC tax and other obligatory payments to the Republic of Kazakhstan budget.

In 2021, CPC-K paid taxes of 36.6 billion tenge ($86 million). In 2022, 37.5 billion tenge or almost $82 million.

For reference: in September 2020, CPC fully repaid its debt to the Shareholders and started quarterly dividend payments.

The Consortium also continues its charity projects. Since 2000, CPC has been investing annually 1.3 billion or $3 million in Atyrau Oblast social infrastructure.

For information:

CPC Pipeline System is one of the major investment projects with foreign capital in energy sector in the CIS. The length of the Tengiz – Novorossiysk pipeline is 1,511 km. This route transports over two-thirds of all Kazakhstan export crude, as well as crude from Russian oil fields, including those in the Caspian Region. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor weather conditions.

CPC Shareholders: Federal Agency for State Property Management represented by Transneft (trust management) – 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. S.ar.l. – 2% and Oryx Caspian Pipeline LLC – 1.75%.