German Gref pointed out that Caspian Pipeline Consortium was one of the significant clients of Sberbank and expressed his hope for further development of cooperation. Nikolay Gorban informed Sberbank Head of CPC current operation business and activities accomplished by CPC at the final stage of the Consortium Expansion Project.
CPC Head emphasized that the increase of volumes transported by the Tengiz - Novorossiysk crude pipeline had favorable impact on the Consortium’s revenues. According to preliminary assessment, the Consortium’s revenues will amount to about $2 B at the end of 2017. It was also noted that in accordance with CPC Treasury Policy, 50% of the Consortium’s cash is placed in Russia.
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%.