VOL. XLVI
No 18
05-May-2003
CASPIAN
BTC Financing Taking Longer Than Expected
Negotiations to arrange financing for the Baku-Tbilisi-Ceyhan (BTC) crude pipeline are taking longer than expected and will require the partners in BTC Company to find an additional $700mn to cover construction costs for 2003, according to BP Azerbaijan President David Woodward. BP is leading the $2.95bn project to build a 1,760km crude pipeline with a 1mn b/d capacity and have it in operation by first quarter 2005....
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