10/28/2009

Turkey and Russia to build oil refinery at Samsun-Ceyhan pipeline

RBC (Moscow) - Russia and Turkey have agreed on the construction of an oil refinery at the end of the Samsun-Ceyhan oil pipeline for the sale of oil products, Russian Energy Minister Sergei Shmatko told journalists. "It is very inspiring to see discussions of the project's participants on the future of the pipeline", said the minister. He also pointed out that matters regarding the future pipeline were recently discussed in Milan. Earlier, Russia, Turkey and Italy all signed an agreement for the construction of the Samsun-Ceyhan pipeline. The project's cost is estimated at USD 4 billion, and it will be financed by Italy's ENI.

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