4/13/2009

Eni-Calik to start building pipeline in 2010 in Turkey

Reuters - A consortium of oil and gas major Eni and Turkish Calik Energy expects to start building a pipeline that will carry Caspian oil to the Mediterranean by the first quarter of next year, according to a consortium source. Italy's Eni is expected to finance 100 percent of the pipeline, which will cost USD 4 billion, the source said, on the condition of anonymity. However, Eni said on Thursday it is ready to finance the project engineering stage for now. The source said Eni sees oil in its Kazakh Kashagan and Karachaganak fields as a start to the pipeline throughput. The line will run through the Black Sea port of Samsun to the Mediterranean energy hub of Ceyhan, bypassing Turkey's increasingly congested Istanbul and Canakkale Straits.
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