ASTANA, January 16. /TASS/. Foreign shareholders of the Caspian Pipeline Consortium (CPC) are helping in negotiations with equipment suppliers for the project, CPC head Nikolay Gorban said at a press conference. He recalled that the CPC is not subject to sanctions.

"Unfortunately, foreign manufacturers and suppliers are cautious, they are trying to be on the safe side, which leads to certain difficulties in relations. This is where our foreign shareholders help us, because it is easier for them to conduct negotiations in Europe, America or wherever instead of me going there to hold talks," he said. According to him, the company is provided with the necessary equipment.

"There are certain problems, but the critical supply, the supply of spare parts, equipment that we need, now all this is present and we can ensure the stability of the operations," Gorban added.

He noted that foreign shareholders still participate in the management of the company and making corporate decisions at the level of the board of directors, in the work of the consulting, technical and financial committee, and in conducting audits.

"Everything that was before remains the same to the same extent, our work has not changed at all," he said.

CPC is the pipeline system connecting Kazakhstan with a seaport in Novorossiysk area, where tankers are loaded with oil for the supply to global markets. The 1,511 km long pipeline links oilfields in the West Kazakhstan with the marine terminal in Novorossiysk. CPC Marine Terminal is equipped with three Single Point Moorings that allow loading tankers safely at a significant distance offshore, also amid poor weather conditions.