Tuesday, 12 August 2008


War Threatens Key Pipeline For Crude Oil
BY GUY CHAZAN AND BENOIT FAUCON
Word Count: 584 | Companies Featured in This Article: BP
The conflict in Georgia is placing grave doubt on the country's reliability as an energy corridor bringing Caspian crude to global oil markets.

Some 1.2 million barrels of oil a day flow through Georgia, 1.4% of global crude supply. Attacks could send shockwaves through the world-wide supply chain. Alarm was triggered over the weekend by reports that Russian planes had bombed near a pipeline, Baku-Tbilisi-Ceyhan, or BTC, which brings 850,000 barrels of oil a day from Azerbaijan's Caspian oilfields through Georgia to the Turkish port of Ceyhan on the Mediterranean Sea.

Commissioned in 2005, the BTC has enormous strategic significance ...