14/07/2006 (Agence Europe) - The new Baku-Tbilisi-Ceyhan oil pipeline was inaugurated on 13 July in Ceyhan (Turkey) in the presence of European Energy Commissioner Andris Piebalgs. With a lifespan of 40 years, the BTC oil pipeline linking Southern Caucasus and Central Asia to Turkey and the European markets, is expected to carry over 50 million barrels of oil annually to the world markets by 2008. Current volumes are just half that amount.