9/19/2008

Multi-purpose pipeline project discussed in Indo

Economic Times of India - India has expressed keen interest in the USD 11 billion Med Stream project, a multi-purpose offshore pipeline venture which can transport crude oil at cheaper rates to the country from Turkey. Officials from India, Turkey and Israel met for the first time in the Turkish capital Ankara discussing technical issues of the Med Stream pipeline project. The project to connect Turkey and Israel via the Mediterranean Sea is planned to transport oil, natural gas, water, electricity and fiber optic cables. Initial studies estimated the cost at 8 billion euros. Technical studies should begin by end of this year and establishment of the pipeline might begin by the end of next year or in 2010.
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