OREANDA-NEWS. CPC General Director Nikolai Brunich took part in the 11th Russia/Kazakhstan Interregional Cooperation Forum held in Atyrau on September 29-30 dedicated to innovations in the hydrocarbons industry.

The forum was opened by Heads of State Vladimir Putin and Nursultan Nazarbayev. The meeting attendees included the leadership of key ministries and institutions, heads of Russian and Kazakh regions, and also big business representatives.

Energy Minister Alexander Novak who visited CPC's exhibition stand as part of the exhibition of the largest innovation companies in the fuel & energy industry, called the consortium “one of the most important joint projects for Russia and Kazakhstan”, noting its role in transporting Kazakh crude oil. He stressed that Kazakh energy resources production and sales volumes were on the increase continuously which in turn created greater demand for the transportation infrastructure.

The day earlier Nikolai Brunich had taken part in the 4th Trans-Caspian States Summit held in Astrakhan. The heads of the five states - Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan - with the leaders of major companies operating in those regions attending, discussed some issues around forming a contemporary legal regime for the Caspian Sea, trans-Caspian pipelines and military cooperation.

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

The Expansion Project includes rehabilitation of 5 existing and construction of 10 additional pump stations (2 in the Republic of Kazakhstan and 8 in the Russian Federation), six new storage tanks (100,000 cu.m each) in addition to the existing four near Novorossiysk and a third SPM at the CPC Marine Terminal, and also the replacement of an 88 km pipeline section in Kazakhstan with a larger diameter pipe. The total amount of the Project investments will be USD 5.4 billion.

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% и Oryx Caspian Pipeline LLC - 1.75%.​