Turkey, Russia and Italy support to the Samsun- Ceyhan pipeline projectOctober 20, 2009 - 12:31 AMT PanARMENIAN.Net - Turkey, Russia and Italy issued a joint declaration in Milan Monday, announcing their official support to the Samsun - Ceyhan pipeline project, which aims to reduce increasing traffic on the Bosphorus and the Dardanelles Straits in Istanbul and to provide an alternative route for Russia and Kazakhstan?s oil.During the meeting, Italian energy company Eni and Turkish company Calik Energy -which hold 50 percent shares of the Trans Anatolian Pipeline Company (Tapco), the contractor of the project- signed a MoU with Russian companies Transneft and Rosneft. Turkish Energy Minister Taner Yildiz told reporters at the joint press conference held after the meeting that around 160 million tons of oil was transported though the Turkish straits annually noting that the Samsun Ceyhan pipeline project would reduce this by 50 million tons. Italian Economic Development Minister Claudio Scajola said they were ready to support all energy projects that also looked out for the ecological balance. The 550-km long (340 miles) pipeline is expected to cost $1.5 billion and will ship an initial 1 million barrels per day between Black Sea oil terminal in Samsun and Mediterranean oil terminal in Ceyhan, Turkey, with plans to raise the capacity to 1.5 million bpd. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |