BTC Pipeline – An IFI Recipe for Increasing Poverty
Publisher: CEE Bankwatch Network
Volume: 45 pages, pdf
Description:
The Azerbaijan-Georgia-Turkey pipeline system (the Baku-Tbilisi-Ceyhan Main Export Oil Pipeline along with the South Caucasus Gas Pipeline) represents the implementation of the US Energy Security Strategy.1 Starting in 2005, the 1770 km-long Baku-Tbilisi-Ceyhan (BTC) pipeline will transport up to one million barrels per day (bpd) of crude oil from an expanded Sangachal terminal near Baku in Azerbaijan, and then through Georgia to a new marine terminal at Ceyhan, Turkish Mediterranean. The initial costs of the BTC pipeline project were estimated at around USD 3.7 billion. The project is implemented by the international consortium known as the BTC Pipeline Company (BTC Co.), in which British Petroleum AMOCO maintains a leading role.