BUILDING OF BAKU-TBILISI-CEYHAN OIL PIPELINE STARTED IN GEORGIA

The first pipe of the Baku-Tbilisi-Ceyhan oil pipeline was laid in eastern Georgia near Tetritskaro and the building of the pipeline was officially declared. Georgian president Eduard Shevardnadze, representatives of Azerbaijan and Turkey participated in the solemn ceremony, “Novosti” Russian agency reports. The building of the pipeline is planned to be completed by 2004, and oil transportation from Chirag-Gyuneshli Azeri well via Georgia to Ceyhan Turkish port will begin in 2005. The total cost of the project is estimated $2.95 billion.