Posted by meb at October 19th, 2009
Italy, Russia and Turkey signed an agreement on building the Samsun-Ceyhan oil pipeline, according to Eni, Italyâ€™s biggest oil company.
The project underscores a â€œjoint commitment to enhance energy security,â€ according to a statement issued by Eni on Monday. The pipeline will run between Samsun on Turkeyâ€™s Black Sea coast and the Mediterranean port of Ceyhan.
The accord was signed in Milan Tuesday by Turkeyâ€™s Energy Minister Taner YÄ±ldÄ±z, Italyâ€™s Economy Minister Claudio Scajola and Russiaâ€™s Deputy Prime Minister Igor Sechin and Energy Minister Sergei Shmatko.
Eni and Turkeyâ€™s Ã‡alÄ±k Holding, which each own 50 percent, also signed a memorandum of understanding with Transneft and Rosneft on the participation of the Russian companies, according to the statement.
The 550-kilometer (342-mile) link, known as the Trans Anatolian Pipeline, will have a capacity of 1 million barrels a day, which may increase to 1.5 million barrels, according to Eni.
source: Hurriyet daily news