Capital costs of Baku-Tbilisi-Ceyhan project significantly increased
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--
-
- Social
- 21 August 2015 02:28
Economics
-
The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
-
The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
-
The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
-
Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
Leave a review