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Presidents Gather In Turkey For Opening Of Pipeline

Azerbaijani President Aliyev (left) and Georgian President Saakashvili at the opening of the Azerbaijani section of the Baku-Tbilisi-Ceyhan pipeline in May 2005 (ITAR-TASS) July 12, 2006 -- Azerbaijani President Ilham Aliyev and Georgian President Mikheil Saakashvili arrived in Istanbul today ahead of a July 13 ceremony to open the Baku-Tbilisi-Ceyhan oil pipeline.

Both presidents are due to meet with Turkish Prime Minister Recep Tayyip Erdogan and attend a dinner given by President Ahmet Necdet Sezer.


Caspian Energy Special

Caspian Energy Special

For a complete archive of RFE/RL's coverage of energy issues in the Caspian Sea region and Russia, click here.

HOW MUCH OIL? The U.S. Energy Information Administration has estimated that the Caspian could hold between 17 billion and 33 billion barrels of proven oil. ("Proven reserves" are defined by energy experts to be 90 percent probable.) Other experts estimate the Caspian could hold "possible reserves" of up to 233 billion barrels of oil. ("Possible reserves" are considered to be 50 percent probable.) By comparison, Saudi Arabia has 261 billion barrels of oil and the United States 23 billion...(more)

See also:

Economic Forecast For 2006 Sees Growth, But Danger In Continued High Oil Prices

How Vast Are The Riches In The Caspian?

Experts Envision A Future Beyond Oil

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