Botas International Limited (BIL, Turkey), operator of the Baku-Tbilisi-Ceyhan Pipeline in Turkey, has abandoned the claim against the pipeline project, Trend reports.
Botas filed a lawsuit, insisting that the project caused damage of $2 billion. Turkey and Azerbaijan introduced amendments to the package of energy agreements in October 2011, including adjustments to the document on the Baku-Tbilisi-Ceyhan Pipeline.
The amendments will give Turkey additional income of $3.7 billion, instead of $2 billion.
BIL sustained most losses from an increase of gas prices from Shah Deniz, transported via the Baku-Tbilisi-Ceyhan Pipeline. Besides amendments to the document, the Turkish company will receive compensation of $100 million.
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