OREANDA-NEWS. July 19, 2012. CPC Marine Terminal infrastructure in Yuzhnaya Ozereevka, Krasnodar Krai, was not damaged by the strike of the elements on the night of July 7th. No failures were detected in the operation of the Tank Farm, Onshore facilities, single point moorings and line facilities of the Tengiz-Novorossiysk trunk crude pipeline crossing the Krai territory, including the Krymsky District - the worst hit area. All equipment operates normally, maintaining the pipeline system integrity. Because of the stormy conditions for the purpose of avoid environmental damage the crude oil loading on the tankers was temporary suspended. Already on Saturday evening the lifting was resumed.

Nikolay Platonov, Consortium's General Director, expressed his condolences on the tragedy which had happened. In his letter to the Krasnodar Krai Governor he noted: "Caspian Pipeline Consortium staff are heart-stricken by the tragedy happened in Kuban. It is our common grief". He promised that that CPC-R would provide financial aid to the affected people as soon as possible.

CPC pipeline system is one of the largest investment projects in the energy industry with the participation of foreign capital in the CIS countries. The length of the pipeline connecting the oil fields in the Western Kazakhstan with the Marine Terminal near Novorossiysk amounts to 1,511 km. CPC Marine Terminal is equipped with single point moorings which allow to load tankers in a safe manner at a significant distance from the shore, also when the weather conditions are unfavorable.

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%.