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BTC is an Important Energy Project – U.S. Vice President

Baku-Tbilisi-Ceyhan (BTC) pipeline is a very important energy project, the U.S. Vice President Joe Biden said.


He made the remarks while speaking at the energy summit in Istanbul, Turkey.

Biden said that before, no one believed that such a project will be implemented, but Azerbaijan, Georgia and Turkey succeeded to realize it.

One of the highlights in the implementation of the BTC project was Azerbaijan's leading role and the participation of Georgia and Turkey in this project.

The total length of the BТС is 1,768 kilometers, including a 443 kilometer long section running through Azerbaijan, a 249 kilometer long section in Georgia and a 1,076 kilometer long section in Turkey. The construction of the pipeline started in April 2003. It was filled with oil on May 18, 2005.

BTC Co. shareholders are: BP (30.1 percent), AzBTC (25 percent), Chevron (8.9 percent), Statoil (8.71 percent), ТРАО (6.53 percent), ENI (5 percent), Total (5 percent), Itochu (3.4 percent), Inpex (2.5 percent), ConocoPhillips (2.5 percent) and ONGC (2.36 percent).

Source: Trend

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