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Capital expenditures to Baku-Erzurum gas pipe to be increased by 71%, this year

02 March 2012 14:25 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. In 2011, capital expenditures to the South Caucasus Pipeline (Baku-Tbilisi-Erzurum) amounted to $ 8.8 million. BP-Azerbaijan told APA that this year the costs are projected to increase by 70.5% to $ 15 million.

During the reporting period, the average daily throughput capacity of the pipeline totaled 12.5 million cubic meters of natural gas (equivalent to - more than 76 thousand barrels of oil).

Note that, the Baku-Tbilisi-Erzurum gas pipeline, commissioned in late 2006, initially transporting gas to Azerbaijan and Georgia, and from July 2007 - to Turkey.

The major shareholders of the pipeline are: BP (technical operator - 25,5%), Statoil (commercial operator - 25,5%), Azerbaijan CQBK Ltd. (10%), Lukoil (10%), NÄ°KO (10%), Total (10%) and TPAO (9%).