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Who Should Regulate the Baku-Tbilisi-Ceyhan Pipeline?

I. INTRODUCTION

The roughly U.S. $3 billion Baku-Tbilisi-Ceyhan (BTC) pipeline project is intended to transport oil from the Caspian Sea to the West. At a length of 1,090 miles, it will be the world's longest export pipeline when completed. The three countries over which the pipeline will travel -Azerbaijan, Georgia, and Turkey - desperately want the pipeline for economic reasons. So too does the consortium of "big oil" and its supporters among Western governments. The United States in particular is keen to obtain non-OPEC oil and at the same time avoid transport through Russia and Iran for geopolitical reasons.1 But the legal basis for the pipeline has come under heavy criticism from ...

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