CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

SPIEF-2023: Business Meeting of CPC and Republic of Kalmykia Heads

20230615-2.jpgOn 15 June 2023, at the XXVI St.-Petersburg International Economic Forum (SPIEF-2023), CPC General Director Nikolay Gorban and Batu Khasikov, Head of the Republic of Kalmykia, held a business meeting.

It was noted that CPC is one of the strategic partners of the Republic of Kalmykia, taking an active part not only in development of the oil transportation system but in solution of many important social tasks of the Region.

In 2019-2020, Caspian Pipeline Consortium paid almost 10 Bln rubles as taxes to the budget of Kalmykia. About 100 million rubles were allocated to implementation of charity projects in the Republic in 2022.

Recent important projects include the opening of two sports stadiums in Iki-Burulsky and Chernozemelsky districts of Kalmykia, supply of special road equipment and vehicles for social institutions, and installation of water purification filters in 10 educational institutions.

As a reminder: In April 2022, CPC General Director Nikolay Gorban and Kalmykia Head Batu Khasikov signed a new five-year Cooperation Agreement between the Consortium and the Republic. It replaced a similar document from 2017. In accordance with the Agreement, CPC continues its support to a number of socially significant spheres of the Republic’s life - health care, education, culture, children’s sport, and targeted aid to the most vulnerable population.

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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%.