During six months in 2015 the capital costs of the BTC Co company (operator of construction and operation of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline) in the BTC project increased by 43.5% up to $88 million against the same period in 2014, reads the report of BP-Azerbaijan company.
During this period the pipeline operation costs reached $73 million, while capital outlays - $15 million.
According to BP, since launching of the BTC oil pipeline on June 4, 2006 till July 1, 2015 298 million tons of oil was exported to the world markets via this pipeline and 2,940 tankers have been shipped from the Ceyhan terminal.
Carrying capacity of the BTC oil pipeline is 1.2 million barrels of oil a day.
During 6 months this year 18 million tons of oil was pumped via the pipeline and 188 tankers have been shipped from the Ceyhan terminal.
The BTC oil pipeline is 1768 km long, of which 443 km lies in Azerbaijan, 248 km in Georgia and 1077 km in Turkey. Carrying capacity of the pipeline is 1.2 million barrels of oil a day.
The project partners include BP (30.1%); SOCAR (25.00%); Chevron (8.90%); Statoil (8.71%); TPAO (6.53%); ENI (5.00%); Itochu (3.40%); ConocoPhillips (2.50%); INPEX (2.50%), Total (5.00%) and ONGC (2.36%). –0--
Economics
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Russia and Iran have agreed on a gas pipeline route passing through Azerbaijan, according to Russia’s Energy Minister Sergey Tsivilyov. The Russian minister stated that the parties are in the final stage of negotiations, and the volumes have already been determined. According to Tsivilyov, Iran’s agreement with Russia’s Gazprom for gas supply via Azerbaijan is currently estimated at over 2 billion cubic meters annually. However, future supplies could increase to 55 billion cubic meters per year.
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On January 20 during the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan engaged in a strategic dialogue with Nick Studer, CEO of Oliver Wyman Group.
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During the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan met with Jared Cohen, President of Global Affairs at The Goldman Sachs Group, Inc. The meeting underscored the ongoing collaboration between Goldman Sachs and Azerbaijan's financial institutions, notably the Central Bank of Azerbaijan and the State Oil Fund.
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At the World Economic Forum in Davos, Azerbaijan's Minister of Economy, Mikayil Jabbarov, participated in the session titled "Leaders’ Circle: Financing the Energy Transition – A New Horizon." Jabbarov emphasized discussions on existing opportunities and major challenges in achieving successful energy transformation, underscoring the critical importance of financing the energy transition.
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