12/25/2009

Turkey to secure supplies for the new oil pipeline

 

Reuters - Turkey sees Russian, Kazakh and Turkmen oil filling most of a planned USD 4 billion pipeline from its Black Sea coast to the Mediterranean port at Ceyhan, according to Turkey’s Energy Minister Taner Yildiz. Turkey also expects to sign an agreement with the Azeri government on procuring extra natural gas, Yildiz noted.

 

Calik Group of Turkey and Eni, Italy's largest energy company, are partners in the Trans-Anatolian Pipeline that aims to deliver Caspian fuel from the northern Anatolian province of Samsun to Ceyhan, a terminus for two other oil pipelines, while bypassing Istanbul's congested Bosphorus channel.

 

Russian companies may take a stake in the project, said pipeline operator Transneft last week. State-run Rosneft, Russia's largest oil producer, agreed in October to supply the pipeline with its own crude. "After the Russian initiatives to secure oil for the pipeline, we expect fuel to be procured from Russia, Kazakhstan and Turkmenistan", Yildiz told Reuters in an interview late on Tuesday.

 

"There are many reasons to back this pipeline politically", he said. "It has strategic importance and will contribute to Turkey becoming a petroleum and natural gas corridor."


The 550-km pipeline is expected to have a capacity of 1.5 million barrels per day.

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