(MEBG) – Botas, Turkey's state oil pipeline concern, issued a tender on July 15 to preparatory engineering work for the Turkish section of the Baku-Tbilisi-Ceyhan pipeline.
The estimated capacity of the proposed pipeline, which will carry Caspian crude to Western markets, is one million barrels per day. Turkey expects up to $300 million in transit fees from the line during its peak operation.
The Turkish section of the 42-inch, 1,730-kilometre pipeline, which will cost $2.4-$2.7 billion in total, will be 1,037 km long.
The estimated cost for the Turkish section is $1.3 billion. After the preparatory work, Botas will issue other tenders for the production stage. Turkey will have to finance any cost over $1.3 billion.
Turkey, Azerbaijan and Georgia all ratified agreements in May and June that outlined legal framework for the pipeline project.
© 2000 Mena Report (www.menareport.com)
