VOL. XLI

No. 48

30-November-1998

FSU

AIOC Head Says Baku-Ceyhan Could Lose Money

Mr. John Leggate, head of the Azerbaijan International OperatingCompany (AIOC), said on 26 November that the proposed Baku-Ceyhan crude oil pipeline couldlose as much as $500mn a year through operating costs, adding that it would cost twice asmuch to operate as the two proposed alternate routes -Baku-Supsa and Baku-Novorossysk. "The difference between the two options is a maximumof a half billion dollars per year,"...