ASTANA, Kazakhstan, December 9. Russian
President Vladimir Putin has issued a special order granting
permission to the joint venture Rosneft-Shell Caspian Ventures to
carry out transactions with its shares in the joint-stock company
Caspian Pipeline Consortium-R (CPC-R), Trend reports, citing the document.
The order authorizes the Rosneft-Shell joint venture to engage
in transactions involving the shares it holds in the prominent oil
pipeline consortium. The Rosneft-Shell Caspian Ventures holds a
7.5% stake in the Caspian Pipeline Consortium (CPC) project.
The CPC is responsible for approximately 80% of Kazakhstan's
crude oil exports, a key OPEC+ member. It facilitates the
transportation of oil from three major Kazakhstani fields: Tengiz,
Kashagan, and Karachaganak.
CPC’s shareholders include: Russia (via Transneft) with a 24%
stake, KazMunayGas with 19%, Chevron with 15%, Lukoil with 12.5%,
Mobil Caspian Pipeline Consortium with 7.5%, Rosneft-Shell Caspian
Ventures Limited with 7.5%, along with other participants.
In October, the U.S. Department of the Treasury imposed
sanctions on Russian companies Lukoil and Rosneft, along with 34
subsidiaries of these entities, as part of a new sanctions package.
However, in November, the U.S. government decided to exclude the
Caspian Pipeline Consortium, Tengizchevroil, and the Karachaganak
development project from its sanctions against Rosneft and
Lukoil.
On November 29, at 06:06 Astana time, the marine infrastructure
facilities of the CPC near the port of Novorossiysk were targeted
in an attack by an unmanned watercraft. As a result, the offshore
mooring facility VPU-2 sustained significant damage and is now out
of operation until comprehensive repair and restoration efforts are
completed.
