VOL. XLIV

No. 24

11-June-2001

CASPIAN

AIOC Head Says BTC Pipeline Cost Could Reach $2.9Bn

David Woodward, the Associate President of BP Azerbaijan and head of the Azerbaijan International Operating Company (AIOC), confirmed on 5 June what many observers have expected for some time: that the cost of the Baku-Tbilisi-Ceyhan (BTC) crude pipeline might exceed the current estimate of $2.725bn. (When first proposed, the cost of the pipeline was put at $2.4bn.) Speaking in Baku during the 8th Caspian...