CPC Terminal paid over RUB 5.28 billion for recovery of damage caused by oil spill
Caspian Pipeline Consortium, being a law-abiding Company, in accordance with the Ruling of the Court of Appeal in respect of review of legality and validity of decisions (rulings) of arbitration courts, which have not entered into legal force - Fifteenth Arbitration Court of Appeal on the claim of the Black Sea-Azov Marine Department of the Federal Service for Supervision of Natural Resources (Rosprirodnadzor) for recovery of damage caused to a water body as a result of the oil spill at CPC Marine Terminal in August 2021 - made payment of 5,285,111,430 (Five billion two hundred eighty five million one hundred eleven thousand four hundred thirty) rubles to the Federal budget on 29 June 2022, according to CPC.
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%.
