Akhmetjan Esimov, Management Board Chairman, Astana EXPO-2017 National Company, and Kayrgeldy Kabyldin, Deputy General Director, RK Government Relations, signed a memorandum of cooperation on November 8th, 2016. CPC, one of the world’s largest oil transportation projects, will be a corporate participant of EXPO-2017 and provide sponsorship aid.
Astana EXPO-2017 CEO Akhmetjan Esimov stressed that CPC’s participation in the future exhibition was of high significance.
“We are very glad that CPC has decided to become a sponsor for the EXPO-2017 national project. Many of the world’s largest companies are now our partners and sponsors, for example SHELL, Chevron, CISCO, Samsung, General Electric, as well as a number of Kazakh companies. €125 million is already collected as sponsorship. We are signing the memorandum with you for achieving this goal,” – said Akhmedzhan Esimov.
Over the 15 years since 2001, the Caspian pipeline has moved for export half a billion tons of crude oil from Kazakhstan to international markets. CPC pumps over one third of all export oil annually from Kazakhstan, a country becoming increasingly significant in oil product supplies to world markets.
“We are glad to have an opportunity to sign the memorandum making CPC one of the sponsors of the future EXPO-2017 exhibition. We hope to take active part in the exhibition as a corporate participant and today we are making our contribution towards achieving the goal. We are certain that the exhibition will be a success,” – stressed Kayrgeldy Kabyldin.
As a reminder, according to the Registration Dossier approved by BIE (The Bureau of International Expositions), Astana EXPO-2017 needs to raise €147 million under a sponsorship program. Sponsorship and participation categories range from € 10,000 to €15 million.
For reference.
CPC pipeline system is one of the largest investment projects in the energy industry with participation of foreign capital on the CIS territory. The length of the pipeline connecting the oil fields in Western Kazakhstan with the Marine Terminal near Novorossiysk is 1,511 km. CPC Marine Terminal is equipped with single point moorings which allow for safe tanker lifting at a considerable distance from the shore, also when the weather conditions are unfavorable.
The Expansion Project includes rehabilitation of 5 existing and construction of 10 additional pump stations (2 in the Republic of Kazakhstan and 8 in the Russian Federation), six new storage tanks (100,000 cu.m each) in addition to the existing four near Novorossiysk and a third SPM at the CPC Marine Terminal, and also the replacement of an 88 km pipeline section in Kazakhstan with a larger diameter pipe. The total amount of the Project investments will be US$ 5.4 billion.
CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7 %) – 31%; Republic of Kazakhstan (represented by KazMunayGaz – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%; 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% и Oryx Caspian Pipeline LLC – 1.75%.