Decisions are due on Caspian outlet

Aug 11, 1999 02:00 AM

According to industry sources the main international consortium operating offshore in the Caspian Sea is threatening to delay the expansion of its bellwether project in Azerbaijan, angered by the continuing dispute over the proposed route for the oil pipeline.
The Azerbaijan International Operating Co., an 11-member oil consortium led by BP Amoco Corp., wants to expand its small existing line to Georgia's Black Sea terminal at Supsa. That has set the U.S. and others scrambling to protect a bigger, longer and more expensive pipeline plan, which would send the oil to Ceyhan on Turkey's Mediterranean coast.
This route is designed to prevent Russia or Iran from gaining control of the flow of Caspian Sea oil to world markets. It also lessens the risk of increased tanker traffic posing environmental threats to Istanbul, Turkey, and the Turkish Straits.
AIOC President David Woodward said the dispute could result in the consortium delaying a decision due in September on a $ 3.1 bn expansion ofits three Azerbaijani offshore oil fields in the Caspian Sea.

Source: IINX via Iinoil
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