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ECONOMY

EQUIPMENT FOR BAKU-TBILISI-ERZURUM PROJECT PREPARED

01.07.2003 [13:49]
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Equipment for Baku-Tbilisi-Erzurum project estimated in $3 billion is currently being prepared in Singapore and Malaysia, BTC executive director Michael Townsend told a news conference. According to him, plans of the Russian ‘Gazprom’ in Georgia in no way could prevent this project and it will be realized.Mr. Townsend added that main part of gas to be transported via the future gas pipeline meant for selling to Turkey. Recoverable reserves of Shahdeniz field estimated in 625 billion cubic meters. In the framework of the first phase, 6.3 billion cubic meters of gas will be averagely sold to Turkey per year, while 1.5 bln to Azerbaijan and 0.8 bln to Georgia. Greece, Romania and some Eastern European countries expressed their desire to become consumers of the natural gas.

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