Azerbaijan approves terms for export pipeline

Azerbaijan has signed an pact that sets terms for the proposed 1 million b/d Baku-Ceyhan Caspian region oil export pipeline. The Azerbaijan government agreed with Turkey and Georgia to the legal, commercial, and regulatory formula for the Baku-Tbilisi-Ceyhan project. The pipeline would begin moving oil from Azerbaijan and the eastern Caspian Sea to the port of Ceyhan on Turkey's Mediterranean Coast in 2004-05.

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