CPC Faces Red Tape

摘要

The red tape surrounding the expansion of the Caspian Pipeline Consortium (CPC) pipeline was in the spotlight this week at a meeting in Moscow between the head of state pipeline monopoly Transneft, Nikolai Tokarev, and Chevron Vice President Ian MacDonald. Transneft, which manages Moscow’s 31% stake in the line, and Chevron, with 15%, both voiced concern at the bureaucratic delays hindering the start of work aimed at doubling the line’s capacity.