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Russia buys into the Caspian pipeline project
5.11.2008 17:13
Russia buys into the Caspian pipeline project

Russian officials have bought out a share in the Caspian Pipeline Consortium from Oman, reports the Kommersant with the reference to Transneft Company. The cost of the transaction has not been revealed officially, however, Omans share in the project was reported to be $154 million USD, while the total volume of investments in $2.2 billion USD.
      Taking into account 7% acquired from Oman Russian stake in the project increased up to 31%.
      The Caspian Pipeline Consortium is the only private-owned pipeline linking Kazakh city of Tengiz and Russian Novorossiysk. The major shareholders are Chevron, Lukoil and Bps joint venture and, Rosneft and Shells joint venture.


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