Controversial pipeline monitored for adherence to IFC and EBRD policies and to international standards
| Location |
Azerbaijan, Georgia, Turkey
|
| Total Cost |
US$3.6 billion
|
| Funding |
US$250 million (EBRD), US$250 million (IFC)
|
| Dates |
2003
–2009 |
| Status |
Active
|
The Baku-Tbilisi-Ceyhan (BTC) Oil Pipeline was opened on May 25, 2005. It has a capacity to transport up to one million barrels of oil per day a distance of 1,768 km from an expanded terminal at Sangachal on the Caspian Sea in Azerbaijan, through Georgia to the Mediterranean port city of Ceyhan, Turkey. The total project costs are estimated at USD 3.6 billion.
The BTC pipeline was developed and is being operated by an international consortium of 11 partners, led by BP, known as the Baku-Tbilisi-Ceyhan Pipeline Company (BTC Co). The partners are: BP (UK); SOCAR (the State Oil Company of Azerbaijan); TPAO (Turkey); Statoil (Norway); Unocal (USA); Itochu (Japan); Amerada Hess (Saudi Arabia); Eni (Italy); TotalFinaElf (France); INPEX (Japan) and ConocoPhillips (USA). BTC Co has received public financing from the International Finance Corporation (IFC), the EBRD, and a number of Export Credit Agencies.