Middle East Economic Survey

VOL. LI

No 51-52

22/29-Dec-2008

CASPIAN

Transneft Announces BP Agreement To Double CPC Capacity

Mikhail Barkov, Deputy CEO of Russias Transneft, operator of the Caspian Pipeline Consortium (CPC), announced on 17 December that minority partner BP has agreed to support the groups plan to double the export capacity of the Tengiz-Novorossiysk pipeline to 1.34mn b/d from its current level of 670,000 b/d. He made the announcement during a CPC shareholders meeting in Moscow, at...