Government interested in increasing fee for oil transportation via Caspian pipeline

The government is interested in increasing the fee for oil transportationvia the system of the Caspian Pipeline Consortium. Russian Energy MinisterIgor Yusufov voiced this position after a meeting of the State Council,devoted to the development of Russia's coal mining industry, today. According to him, the fee for oil transportation may be raised by about 38%(the present fee is $25 per ton). At the same time he added that a decisionon increasing the fee by 1% should be approved by all the owners. The Russian government holds 24% of the shares in the Caspian PipelineConsortium, the government of Kazakhstan has 19%, and Oman owns 7%. Another50% of the shares in the consortium are divided between the followingcompanies: Shevron (15%), LUKARCO B.V. (12,5%), Rosneft-Shell (7,5%), Mobil(7,5%) Agip (2%), BG Overseas (2%), Kazakhstan Pipeline (1,75%), Oryx(1,75%). .

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