Freshfields Bruckhaus Deringer, Sullivan & Cromwell and Allen & Overy (A&O) have completed a £2bn ($3.65bn) financing of the Baku-Tbilisi-Ceyhan oil pipeline – a 1,700km link across Turkey, Georgia and Azerbaijan.

The firms have been working on the deal for more than two years, although the line itself has been in development for at least 10 years.