 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Gazprom Neft Says Pipeline Bypassing Bosporus Will Cost A Billion More
Moscow (RIA Novosti) Jun 29, 2007 A planned oil pipeline to bypass Turkey's strait linking the Black Sea to the Mediterranean would cost over $1.2 billion, a Russian contractor from Gazprom's oil-producing arm, Gazprom Neft, said Wednesday. Nikolai Seryogin told the Fifth Russian Petroleum and Gas Congress that the planned $900-million pipeline between the Bulgarian port of Burgas and Greece's Alexandroupolis would be more expensive that previously thought, because of projected inflation, and likely growth in metals and pipe prices. However, he said the expenses would be justified, as oil producers are currently losing up to $750 million annually due to oil tankers moving between the Black Sea and the Mediterranean becoming stuck in the narrow, crowded Bosporus strait. Seryogin said the pipeline's capacity could be increased from 35 to 50 million metric tons per year (1 million barrels per day), due to expectations of additional crude supply totaling 45 million tons per year from the Caspian Pipeline Consortium 2 project, which he said could not realistically be brought to the world markets by sea. The 280-km pipeline will be owned by a company in which a Russian venture, set up by state-controlled Gazprom Neft, Rosneft, and Transneft will hold 51%. Bulgarian and Greek partners, still to be determined, will have 24.5% each. Seryogin said an international design company will be set up by the end of the year to make a feasibility study.
Source: RIA Novosti Community Email This Article Comment On This Article Related Links Powering The World in the 21st Century at Energy-Daily.com
Russia-Georgia Gas Pipeline In Mountains To Be Highest In World
Vladikavkaz, Russia (RIA Novosti) Jun 29, 2007A natural gas pipeline being built in the Caucasus mountains linking Russia and Georgia will gain the honor of being the world's highest pipeline, the project chief said Thursday. The high-altitude pipeline will link Russia and South Ossetia, a secessionist republic in Georgia, and is expected to end the region's gas dependence on Tbilisi. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
