CPC shareholders receive $1.3 billion in dividends

On March 17, Kazakhstan’s Minister of Energy Almasadam Satkaliyev held talks with General Director of the Caspian Pipeline Consortium (CPC) Nikolay Gorban. During the meeting, the two parties discussed the current workflow of the pipeline.  

Gorban reported that between Jan. 1 and March 11, 2025, 13.5 million tons of oil had been shipped through the CPC stretching from the Tengiz oil field to the port of Novorossiysk, where the oil was loaded onto 118 oil tankers. In 2024, the marine terminal processed 63 million tons of oil, generating $2.3 billion in revenue. During the same period, CPC shareholders received $1.3 billion in dividends, while Kazakhstan’s treasury reported $85 million in tax revenue from the project.

In addition, Satkaliyev met with Shen Yanfeng, the president of China National Nuclear Corporation (CNNC), as the Chinese giant is one of the potential contractors for Kazakhstan’s first nuclear power plant (NPP).

The minister pointed to CNNC’s experience in constructing state-of-the-art reactors and emphasized the goal Kazakhstan is pursuing: to find the best technological and economic solution for its first NPP. Therefore, during the negotiations, the two sides discussed prospects for cooperation in the nuclear energy sector.

Shen confirmed that CNNC is ready to share its know-how and the most advanced technical solutions. Meanwhile, Kazakhstan continues to negotiate with foreign partners as it seeks to choose the most suitable technology and ensure the country’s energy security.

Previously, Kursiv.media reported that the CPC might face a bottleneck effect if oil exports continue to grow.