"Lookoil" Russian Oil Company has refused to participate directly in the construction of Baku-Tbilisi-Jeyhan oil pipeline. Company vice-president Jivan Cheloiants has stated this at the international energy conference in London. "Our company will not finance and participate in the construction of the pipeline" stated he. It should be reminded, last year December "Lookoil" president Vagit Alekperov said in Baku the company would certainly participate in the project and planned to have 7.5 shares in the consortium. In Baku the unexpected change of the plans of the "Lookoil" company leaders is explained with the pressure from the direction of the Russian government that was initially against the engagement of Russian oil companies in the construction of the Baku-Tbilisi-Jeyhan oil pipeline.
Official Moscow denies its influence on the decision-making process of the company's leadership. Meanwhile, it is known the issue on expediency of the passing of the law banning Russian oil companies' participation in the project of the Baku-Jeyhan oil pipeline as it is "contrary to political and economic interests of Russia" has been discussed in the State Duma several times. Last year November foreign minister Victor Kalyujni also stated about the support of this initiative. And the other day Russian premier Viktor Khristenko stated that Moscow did not see economic expediency of the project of the Baku-Tbilisi-Jeyhan oil pipeline construction.