Middle East Economic Survey

VOL. L

No 40

01-October-2007

CASPIAN

CPC Shareholders Give Way To Transneft Demands To Gain Russian Approval For Expansion

Western shareholders in the Caspian Pipeline Consortium (CPC) have given way to demands made by Russian pipeline monopoly Transneft, which represents Moscows 24% interest, and agreed to raise crude oil tariffs, restructure debt and revise the charter for CPC-R, the Russian arm of the consortium. Partners in the 1,510km pipeline are now looking for...