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Russian Ministry Proposes Changes In CPC Ownership

June 19, 2006

A Kazakh section of the pipeline carrying oil to the Russian port of Novorossiisk (file photo) (AFP)

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)

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