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Caspian producers contemplate excess of export routes
Publication year - 2005
Publication title -
oil and energy trends
Language(s) - English
Resource type - Journals
eISSN - 1744-7992
pISSN - 0950-1045
DOI - 10.1111/j.1744-7992.2005.300913.x
Subject(s) - quarter (canadian coin) , black sea , pipeline transport , mediterranean sea , crude oil , export trade , pipeline (software) , international trade , business , exportation , mediterranean climate , geography , economy , engineering , oceanography , economics , petroleum engineering , environmental engineering , geology , computer science , archaeology , china , mechanical engineering , artificial intelligence
The fourth quarter of 2005 sees the commissioning of the latest oil export route from the Caspian: the Baku‐Tbilisi‐Ceyhan (BTC) pipeline from Azerbaijan to Turkey. BTC is one of a series of potential export routes from Central Asia and the Trans‐Caucasus. The proposed capacity of all these routes, however, far exceeds the volume of oil likely to be available to fill it at any time in the foreseeable future. Turkey nevertheless continues to press for more export capacity in an attempt to reduce the number of tankers passing through the narrow waterways that connect the Black Sea with the Mediterranean. For their part, Caspian oil producers want their oil to be transported by the cheapest and most direct route, which appears to rule out pipelines designed to divert their exports away from the Black Sea‐Mediterranean sea‐route.