A solemn ceremony on the commissioning of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline started in the Turkish port of Ceyhan, with the discharge capacity of 50 million tons of oil and technical fulfillment of 10 million barrels, Trend reports.
The Azerbaijani President Ilham Aliyev, the Georgian President, Georgian Mikhael Saakashili, Turkish President Ahmet Nejdet Sezer, the head of BP, Lord John Brown, the President of BP Azerbaijan, are expected to deliver remarks to the ceremony.
BTC pipeline is designed for pumping of oil produced in the Azeri-Chirag-Gunashli fields of Azerbaijan. Later Kazakhstan will also join project. The oil quality fund has been established for mutual settlement between the deliverers of oil of different quality (after Kazakhstans joining. The budget of the pipeline is approximately $4bn.
BTC pipeline lies beyond the Turkish strait of Bosporus, where a regular tanker queue stands, while the companies lose considerable money due to big expenses. Oil running via the BTC immediately falls into the Ceyhan port in the Mediterranean Sea.