VOL. XLVI

No 39

29-September-2003

CASPIAN

BP To Loan $500Mn To BTC Project

The President of BP Azerbaijan, David Woodward, recently announced that BP, the largest foreign investor in Azerbaijan, was prepared to loan $500mn to the Baku-Tbilisi-Ceyhan (BTC) crude pipeline project, construction on which began earlier this year. Speaking in Baku, Mr Woodward told Interfax that the money would be in addition to the financing of BPs share in the project. BP holds 30.1% in BTC Company, which will build,...