A pipeline from Baku, Azerbaijan through Tbilisi, Georgia, to Ceyhan, Turkey is envisioned as the main export pipeline. In November 1999, the Governments of Turkey, Georgia and Azerbaijan signed the basic legal agreements on the construction of this pipeline. Last November a timetable was laid out to study the engineering requirements and costs of the pipeline, while Turkey pledged to finance cost overruns. This pipeline, which will carry one million barrels of oil a day, will carry oil from Azerbaijan, Kazakhstan, and possibly elsewhere around the Caspian Basin to international markets. Construction may begin in the third quarter of 2001, while operations are envisioned for 2004.
Turkey is also a promising natural gas market.
For the time being, Turkey imports 12 bcm of gas from Russia and Algeria a year. As the largest and fastest growing energy market of Europe and Eurasia, Turkey aims to diversify and increase its gas supplies. To this end, gas purchase agreements were signed with Russia and Turkmenistan, and Turkey is currently negotiating a similar agreement with Azerbaijan.