Russia reportedly to quit Burgas-Dedeagac oil pipeline project

Russia may withdraw support from an oil pipeline project that would bypass the Turkish straits, according to Vedomosti.

Russia reportedly to quit Burgas-Dedeagac oil pipeline project

Russia may withdraw support from an oil pipeline project that would bypass the Turkish straits, according to a report appeared Wednesday in the Russian daily, Vedomosti.

Rosneft and Gazprom Neft, the two shareholders in the Transneft --the operator of the planned Burgas-Dedeagac (Alexandroupolis) oil pipeline -- were expected to announce their withdrawal at a Rome meeting on Thursday.

The Burgas-Dedeagac project is planned to carry Russian oil to Greece's Dedeagac Port with a 288 km long pipeline, from Bulgaria's Burgas port. The construction of the pipeline was projected to be completed by the end of 2011 and it is expected to transport 35-50 millions of tons of oil a year.

Citing sources close to the Transneft, Vedomosti said Russian oil companies would shift interest to the rival Samsun-Ceyhan oil pipeline project that would carry Russian oil from Turkey's the Black Sea port city of Samsun to the Mediterranean oil terminal in Ceyhan.

Russian Deputy Premier Igor Sechin said last December that Turkey and Russia might reach an agreement by March over possible Russian investment in the Samsun-Ceyhan project.

The Samsun-Ceyhan Pipeline is expected to carry 60-70 million tons of oil every year.

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Last Mod: 16 Şubat 2011, 14:26
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