The BTC Pipeline: a beacon of Hope or Suffering for the people?

27 09 2006

The Caspian Sea is one of the largest oil and gas fields in the world but its potential was
not been exploited under the Soviet Union. Not only did the end of the USSR with the
subsequent independence of the countries around the Caspian Sea lead to its exploitation,
but also modern technology and investments from the West. Discussions about a new
pipeline started in the late 1990s. The construction of the BTC pipeline that crosses Azerbaijan (Baku), Georgia (Tbilisi) and Turkey (Ceyhan) began in 2002. The pipeline was officially opened in May 2005 in the presence of the three Presidents among other dignitaries that included the United States Secretary of Energy Samuel Bodman. Oil flow through the pipeline commenced in May 2006.

Publication: Covalence Analyst Paper | Country: Global | Company: BP, Unocal, Statoil, Tà¼rkiye Petrolleri Anonim Ortakligi, Eni, Total, Itochu, Inpex, ConocoPhilips, Amerada Hess | Source: Covalence