CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

SPIEF-2021: Meeting attended by Heads of CPC, Transneft PJSC, JSC NC KazMunaiGaz and JSC FNB Samruk-Kazyna

20210604-5.jpgCPC General Director Nikolai Gorban, Transneft President Nikolay Tokarev, Chairman of FNB Samruk-Kazyna Board Almasadam Satkaliev and Chairman of NC KazMunaiGaz Board Alik Aidarbayev held a meeting to discuss the companies’ cooperation within the framework of an international project. Negotiations were held on the sidelines of the St. Petersburg International Economic Forum (PIEF-2021).

For reference: KazMunaiGaz is one of the largest shareholders in CPC – the National Company represents in the CPC Project the Republic of Kazakhstan interest of 19%. On July 01, 2018 KazTransOil, a KMG subsidiary, commenced performance under the contract for maintenance, repair and emergency response at the CPC-K pipeline system facilities in the Republic of Kazakhstan. The Contract between CPC and KTO was signed in May 2018 for a five-year period from 2018 to 2023. The Contract value is approximately KZT 23 bln (about USD 70 mln).

National Welfare Fund Samruk-Kazyna JSC was founded in 2008 by Decree of the President of the Republic of Kazakhstan. The Government of the Republic of Kazakhstan is the sole shareholder of the fund. The fund is a commercial entity – an investment holding, which states its mission as increasing national welfare of the Republic of Kazakhstan and ensuring long-term stability for the generations to come. The fund is a shareholder of JSC NC KazMunaiGaz.

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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%.