Russian Ministry Proposes Changes In CPC Ownership

A Kazakh section of the pipeline carrying oil to the Russian port of Novorossiisk (file photo) (AFP)
June 19, 2006 -- Russia's Industry and Energy Ministry today suggested that the state should transfer its stake in the Caspian Pipeline Consortium (CPC) to Transneft, the joint-stock company that operates Russia's pipeline network.

Russia owns 24 percent of CPC, which operates a pipeline that links Kazakhstan's Tengiz oil field to the Russian Black Sea port of Novorossiisk.

(Interfax-Kazakhstan, ITAR-TASS)