CPC says a working meeting has been held by Russian Federation Energy Minister Nikolay Shulginov with Caspian Pipeline Consortium General Director Nikolay Gorban in Moscow on 11 August 2021.
During the meeting, the CPC CEO briefed the Energy Minister on the Consortium's key operational and financial performance indicators Specifically, in the context of the subject of oil loading dynamics, N. Gorban quoted total loading volume figures since the company started operations - over 740 million tons, and also informed him about a significant event for the company: the 7,000th tanker being moored for loading at the Marine Terminal on 11 August.
CPC General Director updated the Energy Minister on an abnormal situation resulting in an oil spill that happened at the Marine Terminal on 7 August, steps taken by the company to contain and clean up: oil loading has been performed normally on schedule since 8 August.
In terms of financial performance, the following was highlighted: the company's sustainable annual revenue that has amounted to over 2 billion dollars in the past few years, as well that CPC has started implementing its dividend policy: in 2021, the Consortium’s shareholders have been distributed Q4, 2020 payouts in the amount of 655 million dollars.
In the context of discussing the Consortium’s investment programs, the CPC CEO informed the Minister about the progress of the Debottlenecking Program upon completion of which the oil pipeline’s throughput capacity would increase from the current 67 million tons per annum up to 80 million tons.
The CPC General Director also advised that there was close cooperation with the Consortium’s host regions (Republic of Kalmykia, Stavropol and Krasnodar Krais, Astrakhan Region). CPC is on of the largest tax payers in these regions - about 57 billion rubles were directed to budgets at various levels in 2018-2020.
In addition, the company provides significant charity support to the regions in health care, education, culture, children sports development, and ecology. Over 5 billion rubles has been invested as charity in the regions over the company’s years of operation.
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%.