Processing Magazine

Caspian Pipeline May Borrow $1.2 Billion Next Year for Expansion

December 15, 2010

According to Bloomberg, the Caspian Pipeline Consortium partners may borrow $800 million to $1.2 billion next year as they start doubling the capacity of the oil link to the Black Sea. The pipeline’s three largest partners are Chevron, Russia’s OAO Transneft and Kazakhstan’s KazMunaiGaz National Co. The expansion will be financed mostly by the group from cash the project generates, the partners said today in a statement distributed to reporters in Moscow.