Economic Implications of the Baku-Tbilisi-Ceyhan Pipeline
Article from: OGEL 4 (2006), in Pipelines
Introduction
Later this year [2005], when tankers start leaving the port of Ceyhan laden with oil that has been transported from the Caspian Sea to the Mediterranean through the Baku-Tbilisi-Ceyhan (BTC) pipeline, they will be serving global oil markets that are gasping for new supply. In fact, shipments of oil through BTC are expected to represent roughly 25% of the incremental new supply that will reach global markets in 2005 and 2006.[1] Those who initiated the idea of a BTC pipeline - and those who lobbied for it, negotiated, planned, designed, financed, and built it - did not ...