On 10 June 2021, CPC-R paid dividends to Its shareholders for the first time.
The beginning of dividend payout is a remarkable breakthrough and a fundamentally new situation in CPC operations for the government shareholder, namely the Russian Federation whose revenue is mainly generated through dividends.
The timely repayment of CPC debt to shareholders and the accumulation of sufficient free cash to start paying revenue on shares became possible due to the concerted effort of all shareholders and the Consortium.
After reviewing the performance results for 2020, the shareholders decided at the Annual general meeting of shareholders to allocate RUB 48.8 billion rubles for dividends, of which RUB 11.7 billion will be paid to the Russian Federation.
The CPC pipeline system is one of the largest investment projects in the energy sector with the involvement of foreign capital in the CIS. The length of the Tengiz – Novorossiysk pipeline is 1,511 km with more than two thirds of all Kazakhstan’s export oil transported via this route, including the raw materials from Russian oilfields in the Caspian region. The CPC marine terminal is equipped with three single point moorings (SPMs) enabling the safe loading of tankers at a considerable distance from the shore, including under unfavourable weather conditions.
The CPC shareholders include: the Russian Federation (represented by Transneft – 24% and CPC Company – 7%) holding 31% of shares; the Republic of Kazakhstan (represented by KazMunayGas – 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%.