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THE CASPIAN OIL EXPORT PIPELINE race has heated up again. Azerbaijan, Turkey, and Georgia have approved terms for the 1 million b/d Baku-Ceyhan pipeline to export Caspian Sea oil.
The hotly disputed question of which are the best alternatives for delivering potentially vast volumes of Caspian oil to market was complicated still further last week with the perhaps premature announcement of another supergiant oil field discovery off Kazakhstan (see related Quick Take, this page).
The pipeline would begin moving oil from Azerbaijan and the eastern Caspian to the Turkish Mediterranean port beginning in 2004-O5.
Baku agreed with Ankara and Tbilisi on the …