Consortium
The Caspian Pipeline Consortium was initially registered in the Bermuda Islands in 1992. It is split into two companies: CPC-R operates the Russian section of the pipeline and CPC-K operates the Kazakh section.
The shareholders of the consortium are:
- Transneft - 31%
- Kazakhstan - 19%
- Chevron Caspian Pipeline Consortium Co. - 15%
- LukArco B.V. - 12.5%
- Mobil Caspian Pipeline Co. - 7.5%
- Rosneft - Shell Caspian Ventures Ltd. - 7.5%
- Agip International (N.A.) N.V. - 2%
- Oryx Caspian Pipeline LLC - 1.75%
- BG Overseas Holdings Ltd. - 2%
- Kazakhstan Pipeline Ventures LLC (joint venture of KazMunayGas and BP)- 1.75%
Tengiz Field shareholders control 55.75% of the Consortium, Kasaghan shareholders control 33.1%.
In December 2009, BP sold its stake in LukArco to Lukoil for $1.6 billion.
Read more about this topic: Caspian Pipeline Consortium