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ExxonMobil takes 2.5% share in BTC pipeline

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World Pipelines,


ExxonMobil has acquired a 2.5% stake in the Azeri Baku-Tbilisi-Ceyhan (BTC) pipeline from CIECO, a subsidiary of Itochu, an ExxonMobil official said on Monday.

“ExxonMobil became an owner of 2.5% stake in the BTC project in November 2017,” Aygun Tanriverdiyeva, an ExxonMobil official in Baku, told Reuters. The BTC pipeline company operates the pipeline, which ships 1.2 million bpd from Azerbaijan’s major Azeri-Chirag-Guneshli oilfields to Turkey via Georgia.

The pipeline is 1768 km in length, and connects Baku, the capital of Azerbaijan with the Turkish port of Ceyhan.

Its main shareholders are BP (30.1%) and AzBTC (25%), with Chevron, Statoil, TPAO, Eni, Total, Itochu, Inpex and ONGC also holding shares.

Read the article online at: https://www.worldpipelines.com/business-news/20022018/exxonmobil-takes-25-share-in-btc-pipeline/

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