Construction of the Caspian Pipeline Consortium (CPC) pipeline began in 1999, and the first tanker was loaded with Tengiz crude oil at the CPC's terminal at Novorossiysk in 2001.
Our partnerships in Russia have been marked by several licensing milestones:
- In 1994, Chevron sold its ISOCRACKING® process license to Kirishi Nefteorgsyntez (Surgutneftegaz).
- In 2000, Chevron made its ISODEWAXING® catalysts, commercial expertise and technology available to LUKOIL-Volgogradneftepererabotka.
- Chevron Lummus Global signed licensing contracts with the Ryazan Refinery in 2000 and with Tatneft and Rosneft in 2006; the company signed three more contracts with Rosneft, in 2007, 2008 and 2009.
Economy
The implementation of the Tengizchevroil (TCO) project has helped strengthen the Russian economy. TCO's direct expenditures in Russia totaled $932 million in 2012. Since 1993, the direct expenditures of TCO in Russia have totaled more than $7 billion.
Tengizchevroil transports sizable amounts of crude, liquefied petroleum gas and sulfur export volumes on railroads through Russia. In 2012, Russia received more than $432 million in direct payments for railway tariffs, rail car leases and other shipping costs.
Chevron has established partnerships with Russian institutions, including the National Scientific Research Institute of Hydrocarbon Raw Materials—Vniius, in the city of Kazan; Moscow State University; Gubkin State Oil and Gas University; AllRussia Research Institute of Oil Geology; and Gazprom's Russian Research Institute of Gas & Gas Technologies.
Updated: April 2013
Cautionary Statement