Word: statoil
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Dates: during 2000-2009
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...there was a hitch: oil companies weren't terribly interested. With prices and demand still growing and U.S.-Russia relations improved, Cambridge Energy Research analyst Laurent Ruseckas says, commercial factors are now driving the $3 billion project. (It began construction last week, sponsored by British Petroleum, Norway's Statoil and others.) While there is still some Russian annoyance at the plan - and heightened tensions with Georgia over Chechen separatists - Ruseckas notes that "the Russians now understand that this is just a pipeline." In fact, the biggest impact today won't be on a superpower, but on Azerbaijan, which hopes...