No. 50

11 December 2000


CPC Approves 2001 Budget For Completion Of Pipeline By Next June

The shareholders in the Caspian Pipeline Consortium (CPC) on 1 December approved a budget of $650mn for 2001 that will be used to complete the initial construction phase of the 1,580km Tengiz-Novorossysk crude pipeline by the middle of the year. On 22 November CPC held a ceremony at its Novorossysk marine export terminal to mark the completion of laying the pipeline (MEES, 27 November). The...