18:44, 17 August 2004

Developments in Georgia 'cannot become serious obstacle' for pipeline project

$2,760 million were invested for the first six months of 2004 within the limits of the projects Azeri-Chirag-Gyuneshli (sea oilfields), Baku-Tbilisi-Jeikhan (export oil pipeline) and Shakh-Deniz (sea gas-condensate field), BP Azerbaijan President David Woodward told a press conference in Baku. In his words, the investment program of all the three projects has been fulfilled by 100 percent.

Asked whether the armed conflict between Georgia and South Osetia would influence the construction of the Baku-Tbilisi-Jeikhan pipeline, Mr Woodward said BP carefully traced developments in Georgia and did not think they could become a serious obstacle for the pipeline construction. "We constantly keep an eye on the developments taking place in the region and wouldn't want anything that might hamper this large energy project to happen in Georgia," Mr Woodward said.

Author: Zaur Rasulzade, CK correspondent

Source: Caucasian Knot