BTC cuts expenditures in Q1 

In the first quarter of 2022, Baku-Tbilisi-Ceyhan (BTC) spent about $9 million in operating expenditure and about $4 million in capital expenditure, down $32 million or 4.6-fold and $2 million or 1.5-fold, respectively, from the previous year, Report informs, citing bp Azerbaijan.

Since the 1,768 km BTC pipeline became operational in June 2006 till the end of the first quarter of 2022, it carried a total of 3.82 billion barrels (more than 509 million tonnes) of crude oil loaded on 5,007 tankers and sent to world markets.

Around 51 million barrels (about 6.7 million tonnes) of BTC-exported crude oil were lifted at Ceyhan and loaded on 68 tankers in the first quarter.

On 23 March 2022, BTC reached a significant milestone by loading the 5000th tanker of oil transported from the Sangachal terminal near Baku across Azerbaijan, Georgia and Turkey to Ceyhan.

Currently, the BTC pipeline carries mainly ACG crude oil and Shah Deniz condensate from Azerbaijan. In addition, other volumes of Caspian regional crude oil and condensate continue to be transported via BTC.

BTC Co. shareholders are: bp (30.1%), SOCAR (25.00%), MOL (8.90%), Equinor (8.71%), TPAO (6.53%), Eni (5.00%), TotalEnergies (5.00%), ITOCHU (3.40%), INPEX (2.50%), ExxonMobil (2.50%) and ONGCVidesh (2.36%).