Russia and Turkey to build oil-processing factory

October 27, 2009 - 20:38 AMT
PanARMENIAN.Net - Russia and Turkey agreed to build an oil refinery as part of the Samsun-Ceyhan Pipeline project, Russian Energy Minister Sergei Shmatko announced.



On October 19, representatives of Eni, Calik Holding, JSC Transneft and Rosneft, the energy companies involved, signed a Memorandum of Understanding which envisages the commitment to discuss the definition of the economic and contractual conditions for Russian companies to participate in the Samsun-Ceyhan Project in order to ensure the volume of crude that would guarantee the economic sustainability of the project.



The Samsun-Ceyhan pipeline will facilitate safer transport across the Bosphorus and Dardanelles Straits as well as reducing the impact on the region's complex and delicate ecosystem.
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