TODAY.AZ / Business

Zaman: "Dream realized: Caspian oil in Ceyhan"

28 May 2006 [23:08] - TODAY.AZ
The Project of the Century Baku-Thbilisi-Ceyhan (BTC) Oil Pipeline experienced a pinnacle moment on Saturday.

Oil that was pumped from the Baku end of the pipeline, the construction of which began 6 years ago, on May 10 reached Ceyhan yesterday evening after a journey of 1,770 kms.

The first drops of oil were expected to be loaded from Haydar Aliyev Sea Terminal onto a ship named, "The British Hawtharne" on May 28; however, officials from the BTC said they may wait a couple of days for better loading conditions.

An official ceremony to celebrate the first drop of oil reaching Ceyhan from Baku will be held on July 13.

Presidents and prime ministers of Turkey, Azerbaijan and Georgia, and related ministers and representatives from 16 countries will participate in the ceremony.

The BTC pipeline is expected to make a major contribution to the development of world energy supply with its annual 50 million ton capacity.

Thanks to this project, which was created with a sustainable environmental and economic system, Turkey is expected to earn about $300 million annually.

Around 15,000 people were employed during the construction of the pipeline which cost $3 billion.

The project constituted an important leg of the East-West energy corridor, gaining Turkey greater geopolitical importance thanks to the BTC pipeline.

Ceyhan will be an important international oil market and the reduction of oil tanker traffic on the Bosphorous will contribute to greater security for Istanbul.



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