A meeting was held between CPC General Director Nikolay Gorban and Daniyar Berlibayev, Chairman of CPC Board of Directors, Deputy Chairman of the Board, of KazMunayGas, Vladimir Kalanda, Deputy Vice President of Transneft, also participated in the meeting.
General Director informed the meeting participants of the progress of the comprehensive unscheduled inspection of CPC Facilities conducted by the Federal Service for Environmental, Technical, and Nuclear Supervision (Rostekhnadzor) in pursuance of the instruction of Victoriya Abramchenko, Deputy Chairman of the Russian Federation Government.
At the same time, Daniyar Berlibayev pais special attention to discussion of issues related to carrying out repairs of the equipment of the Single Point Moorings (SPM) at CPC Marine Terminal after the SPM damage caused by stormy weather conditions in late March 2022. As a reminder: Mr. D. Berlibayev already personally inspected the Marine Terminal on 29 March 2022 to verify the claimed damages. Another visit is scheduled soon as the Kazakh party’s request.
In the course of discussion, General Director informed of the completed work to flush and isolate the SPM, preparation for further repair activities and of available labor and resources to carry out relevant work. Nikolay Gorban noted that as of 14 April 2022, Novorossiysk Harbor Master issued 107 gale warnings.
In addition, the meeting participants discussed CPC possibilities and prospects of paying dividends to the Russian, Kazakh and other foreign Shareholders in the current reality of restrictive policies. First 2022 payments were scheduled for May-June this year.
CPC earlier communicated that over 1.2 Billion USD had been paid to the Shareholder in 2021 (the last tranche being on 26 November 2021). Non-resident Shareholders were paid dividends in US Dollars at the exchange rate established by the Bank of Russia at the date of payment resolution. Resident Shareholders were paid in Rubles.
FYI:
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 (SPMs) 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%.