Since the Baku-Tbilisi-Ceyhan (BTC) pipeline was first conceived in the early 1990s, there has been much controversy over whether it is really financially viable. Is it too long and expensive to build? Are the available volumes of oil enough to fill the line? Are the political risks too high?
To examine these issues, PLATFORM commissioned the independent financial analyst Mark Mansley of Claros Consulting to conduct a financial analysis of the project.