Russian LUKoil Wants to Participate in Baku-Ceyhan Pipeline Project

(Tbilisi. December 25. Civil Georgia) – Russian oil giant LUKoil may acquire shares of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, Azerbaijani news agency Turan reports, quoting Vagit Alekperov, President of the LUKoil on December 24.

LUKoil wants a 7.5% share in the project. “We will clearly voice our position on the project by the end of the first quarter of 2002,” Vagit Alekperov said.

Previously Russia has been opposing construction of BTC, viewed as a competitor to the pipelines going through the Russian territory (Baky-Novorossiysk.

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