On June 2, 2017 in the course of the functions of St. Petersburg International Economic Forum - STIEF-17 negotiations were held between CPC General Director Nikolay Gorban and KazTransoil General Director Dimash Dosanov.
The Companies’ Heads discussed the prospects of cooperation in view of the increase of transportation volumes in CPC pipeline system up to 67 M tons of crude oil per year after completion of the Consortium’s Expansion Project.
The work under CPC Expansion Project is expected to be completed in the third - fourth quarters of 2017, and the Consortium will be able of systematically increasing lifting from CPC Marine Terminal (Yuzhnaya Ozereevka, Krasnodar Krai) provided the Shippers delivered the nominated volumes of crude oil to CPC System.
FYI:
The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of Tengiz-Novorossiysk pipeline is 1,511 km; more than two thirds of all export crude oil from Kazakhstan and crude oil from the Russian fields, including those in the Caspian Region, are transported by this route. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also amid poor weather conditions.
CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by KazMunayGaz – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%; 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%.
