The impact of the Baku-Tbilisi-Ceyhan Pipeline on Azerbaijan’s Energy Sector and Economy

This bachelor's thesis examines the impact of the Baku–Tbilisi–Ceyhan (BTC) Pipeline on Azerbaijan's energy sector and economy. It analyzes the development of Azerbaijan's energy sector, foreign investment, oil and natural gas exports, and the contribution of energy revenues to economic growth. The thesis also explores the historical background, technical characteristics, legal framework, and strategic importance of the BTC Pipeline. Using a qualitative methodology supported by descriptive statistical analysis, the study evaluates the pipeline's influence on export capacity, public finances, foreign trade, and energy security. The findings indicate that the BTC Pipeline has played a crucial role in strengthening Azerbaijan's position in regional and global energy markets while significantly contributing to the country's economic development. At the same time, the study highlights the continued dependence of Azerbaijan's economy on hydrocarbon revenues and discusses the importance of economic diversification and renewable energy for long-term sustainable growth.