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Experts split on possible buyer of BP's CPC stake
RBC, 22.09.2008, Moscow 19:56:56.Expert opinions differ as to who could be the buyer of BP's stake in the Caspian Pipeline Consortium (CPC) as the British company seeks to withdraw from the politically risky project. As reported earlier, BP has opened talks with all other CPC participants, of whom Transneft looks to some analysts as the likeliest buyer. However, Kazakhstan represented by KazMunayGas has the stronger reasons to fight for an extra stake, while the Russian company will be willing to buy the stake "just in case", and only agree to buy it if it is sold below its market value. LUKoil has also been listed among potential buyers, as BP is represented in the consortium by a joint venture with LUKoil, LUKARCO B.V., holding 12.5 percent in the project. Some analysts doubt that LUKoil could lay hands on the stake, as neither Kazakhstan nor Azerbaijan are currently strategic regions for LUKoil. LUKoil's President Vagit Alekperov told journalists in Sochi not long ago that the company had not received any proposals from BP, and therefore, was not in talks over the stake.
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