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CPC Members To Increase Pipeline Capacity

The shareholders of the Caspian Pipeline Consortium have signed a memorandum on raising the pipeline annual capacity to 67m tonnes

CPC Members To Increase Pipeline Capacity

RBC reported that the document was only missing a signature from one shareholder, Lukarco, a joint venture of BP and LUKoil in which the British company owns a 46-percent stake.

Lukarco chief and LUKoil representative Osman Sapayev noted, however, that LUKoil itself had signed the memorandum. Meanwhile, BP representatives noted that their company did not hold a stake in the CPC directly, but only through Lukarco, which was why BP was not required to sign the document itself. Sapayev also added that Lukarco would sign the memorandum in the near future.

Author: Ksenia Kochneva


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