Construction of Baku-Tbilisi-Dzheikhan oil pipeline will be completed in 2004

The first pipe has been laid in the Baku-Tbilisi-Dzheikhan oil pipeline in the Tetritskkarossky region of Georgia. A time capsule was also laid together with the pipe to communicate with feature generations. 'A lot of people thought that the completion of this project was a myth, but fortunately the day has arrived,' said Georgian President Eduard Shevardnadze at the opening ceremony on Friday. He also award the order of honour to representatives of the company who are taking part in the construction of the oil pipeline.

British Petroleum-Azerbaijan President David Woodword said at the ceremony that he did not rule out the possibility that Georgia could also attract a number of more lucrative projects. 'Georgia confirmed that it is a reliable partner,' he said. US Ambassador to Georgia Richard Miles said that 'I am proud that the US has supported this project from its very inception.'

The oil pipeline will cover a total distance of 1700 kilometers and of them 248 kilometers will be on the territory of Georgia. Presumably, 50 million tonnes of oil will pass through the pipeline each year. The construction of the pipeline should be complete by the end of 2004, and begin to transport oil in 2005. The project cost USD 2.095 billion.