Kazakhstan is interested in buying Oman's 7% stake in the Caspian Pipeline Consortium should the Middle Eastern state decide to sell out, an influential oil industry group official said.
Shareholders in CPC, the key export route for Kazakh crude, are struggling to come to terms on the pipeline's expansion, with Russia, the key host state, opposing the plan. Industry sources told that this week Oman, frustrated with delays, has decided to quit the project but the country has not officially commented on the matter. "There would certainly be interest (to buy the stake)," Timur Kulibayev, president of oil industry group KazEnergy, told. "The national company (KazMunaiGas) is working on it." Kulibayev, also son-in-law of Kazakh President Nursultan Nazarbayev, said Russia was interested in Oman's stake as well. Russia has a 24% share in CPC and Kazakhstan owns 19%. The rest belongs to private shareholders, Chevron, BP, Shell, ExxonMobil, Lukoil and Rosneft.
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