TURKEY, RUSSIA AND ITALY SUPPORT TO THE SAMSUN- CEYHAN PIPELINE PROJECT

PanARMENIAN.Net
20.10.2009 11:31 GMT+04:00

/PanARMENIAN.Net/ Turkey, Russia and Italy issued a joint declaration
in Milan Monday, announcing their official support to the Samsun –
Ceyhan pipeline project, which aims to reduce increasing traffic on
the Bosphorus and the Dardanelles Straits in Istanbul and to provide
an alternative route for Russia and Kazakhstan?s oil.

During the meeting, Italian energy company Eni and Turkish company
Calik Energy -which hold 50 percent shares of the Trans Anatolian
Pipeline Company (Tapco), the contractor of the project- signed a
MoU with Russian companies Transneft and Rosneft.

Turkish Energy Minister Taner Yildiz told reporters at the joint press
conference held after the meeting that around 160 million tons of oil
was transported though the Turkish straits annually noting that the
Samsun Ceyhan pipeline project would reduce this by 50 million tons.

Italian Economic Development Minister Claudio Scajola said they were
ready to support all energy projects that also looked out for the
ecological balance.

The 550-km long (340 miles) pipeline is expected to cost $1.5 billion
and will ship an initial 1 million barrels per day between Black
Sea oil terminal in Samsun and Mediterranean oil terminal in Ceyhan,
Turkey, with plans to raise the capacity to 1.5 million bpd.

From: Emil Lazarian | Ararat NewsPress