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CPC guarantees efficient and environmentally safe movement of crude oil

The Project is designed to increase the trunk pipeline capacity

Working Meeting in the RoK Ministry of Finance

20220310-3.jpgYerulan Zhamaubayev, Minister of Finance of the Republic of Kazakhstan, had a working meeting with CPC General Director Nikolay Gorban on 10 March 2022 in Nur-Sultan. CPC Chief Accountant Alexey Khodakov also participated in the talks.

The parties discussed a wide range of issues concerning international cooperation within the framework of the Caspian Pipeline Consortium project, and provision of stable receipt of taxes and other obligatory payments to the budget of the Republic. They also discussed issues of CPC-K’s participation in the "horizontal monitoring" pilot project of the Ministry of Finance of the Republic of Kazakhstan.

For reference: In September 2020, CPC fully repaid its debt to the Shareholders and proceeded to a quarterly payment of dividends. The Consortium also continues implementation of charity projects. Since 2000, CPC has been investing annually KZT 1,3 Billion, or $3 Million, in Atyrau Oblast social infrastructure.

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%.