Davos 2016: BP invests $150m to upgrade Baku-Supsa pipeline in Georgia

Oil and gas company British Petroleum (BP) will invest $150 million USD in Georgia to modernise certain sections of the Baku-Supsa pipeline and improve ecological standards.

This decision was made in Davos, Switzerland where Georgia’s Prime Minister Giorgi Kvirikashvili met BP chief executive Robert Dudley yesterday.

This was the Georgian PM’s first official meeting within the World Economy Forum, which is taking place in Davos.

Kvirikashvili and a small Georgian delegation departed for Davos yesterday to participate in the 46th session of the international forum. 

At the meeting Dudley provided detailed information about the Baku-Supsa pipeline project, which was implemented by BP in Georgia.

The BP chief executive promised the Baku-Supsa pipeline project would be implemented according to schedule despite the current changes in oil prices in the world market.

Dudley said the Baku-Supsa pipeline upgrading works would be completed in 2018. About 2,000 people were employed in the upgrade project.

The Baku–Supsa Pipeline is an 833 km long oil pipeline which runs from the Sangachal Terminal near Baku, Azerbaijan to the Supsa terminal in Georgia.

It has been in operation since January 1999 and the first tanker was loaded in April 1999. The total cost of the construction of the pipeline and terminal was $556 million USD.