Trans-Caspian Oil Pipeline Will Be Launched Soon

The Trans-Caspian oil pipeline will be launched on August 6, 2001 and is being built by the Caspian Pipeline Consortium.

The presidents of Russia and Kazakhstan have agreed to take personal control of the project of Kazakhstan's oil transportation through the Russian territory. The Caspian Pipeline Consortium was set up to construct the 1,580-kilometer pipeline which is to link Kazakhstan's Tengiz oil field with the Black Sea.

At an initial phase, the pipeline is to transport an annual 28 million metric tons of oil. The pumping capacity is expected to make 60 million tons a year after its completion.

Stakes of government founders of the consortium are Russia, 24 percent; Kazakhstan, 19 percent; Oman, 7 percent.

The project also involves Chevron Caspian Pipeline Consortium Co., with 15 percent stake; Lucarco B.V., 12.5 percent; Rosneft-Shell Caspian Ventures, 7.5 percent; Mobile Caspian Pipeline Co., 7.5 percent; and several smaller shareholders.

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