No. 21

26 May 1997


Caspian Pipeline Consortium Clears LastHurdle, Pipeline To Open September 1999

The 13 members of the Caspian Pipeline Consortium (CPC) signed the final sharetransfer agreement for the company in Moscow on 16 May, effectively clearing the lasthurdle for starting construction of a 1,500-km. crude oil pipeline that is now estimated to cost$2bn. Russia's First Deputy Prime Minister Boris Nemtsov announced that the pipeline will start up on1 September 1999. The Russian...