/IRBIS, Sept 2, 01/ - REUTERS informs that Canadian Hurricane Hydrocarbons Ltd., working mostly in oil and gas sector of Kazakhstan, will buy a small stake in Caspian Pipeline Consortium (CPC).

It is said that Hurricane has bought a stake of subsidiary of BP for $100m in Kazakhstan Pipeline Ventures LLC, where the latter company had 49.9% stake (and 1.75% in CPC), along with Kazakhoil owning the rest of shares. Voting rights of the company founders are distributed proportionally, is said.

It is said the company expects that the deal will be concluded in December 2001.

CPC has finished the construction of the first stage of the oil pipeline from Tengiz field to Russian Novorosiisk port at Black Sea and should put it into service soon.

In CPC Russia has 24% of shares, Kazakhstan - 19%, Oman - 7%. Other 50% of shares are distributed among: Chevron - 15%, LUKARCO B.V. - 12.5%, Rosneft-Shell - 7.5%, Mobil - 7.5%, Agip International - 2.0%, BG Overseas - 2.0%, Kazakhstan Pipeline - 1.75% and Oryx - 1.75%.

The pipeline was first filled with oil in March 2001 and the first portion of oil supply should reach 28m tons a year, and up to 67m tons subsequently.