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Transneft gets 7% share of Caspian Pipeline Consortium

Oil&Gas Materials 20 February 2017 12:30 (UTC +04:00)
Russia’s Transneft crude oil pipeline company has received 7-percent share of Caspian Pipeline Consortium.
Transneft gets 7% share of Caspian Pipeline Consortium

Baku, Azerbaijan, Feb.20

By Leman Zeynalova – Trend:

Russia’s Transneft crude oil pipeline company has received 7-percent share of Caspian Pipeline Consortium.

In accordance with the decree signed by Russian President Vladimir Putin, Transneft got 100-percent share of CPC Company, which had a 7-percent share in the Caspian Pipeline Consortium, according to the message posted on the official portal of legal information.

Moreover, in accordance with Putin’s decree, 100-percent share of CPC Investments LLC has also been transferred to Transneft.

CPC is the international oil transportation project with participation of Russia, Kazakhstan and world’s leading producer companies, which was established for construction and operation of the trunk oil pipeline more than 1,500 kilometers long.

The CPC pipeline system mainly collects crude oil from large oil fields of West Kazakhstan, as well as crude oil from Russian producers.

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Follow the author on Twitter: @Lyaman_Zeyn

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