The Baku-Tbilisi-Ceyhan (BTC) pipeline, a crucial conduit for Caspian oil to global markets, has achieved a significant landmark by transporting over 4.3 billion barrels of oil since it became operational 17 years ago. This announcement was made by Colin Allan, BP (NYSE:BP)'s Vice President Finance, at the SPE Annual Caspian Technical Conference in Baku today.
The BTC pipeline stretches across three countries—Azerbaijan, Georgia, and Türkiye—with respective lengths of 443 km, 249 km, and 1,076 km. It is engineered to handle an impressive capacity of over 50 million tons of crude annually. The pipeline primarily transports Azeri-Chirag-Gunashli crude oil and Shah Deniz condensate. It also plays a pivotal role in moving oil from Kazakhstan and Turkmenistan, bolstering its status as a key artery in the region's energy infrastructure.
Ownership of the BTC pipeline is shared among several major stakeholders. BP holds the largest share at 30.1%, followed by the State Oil Company of Azerbaijan Republic (SOCAR) with a 25% stake. Other notable shareholders include Equinor with an 8.71% interest and TPAO with 6.53%.
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