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News // Oil and gas worldwide

Mutli-million Bulgaria-Greece Pipeline Be Built

08 April 2005 , 10:09594
The governments of Greece, Russia and Bulgaria are going to sign next week an agreement on construction of a Balkan oil pipeline, that will enable Russian oil firms to boost oil exports, Greece?s Development Minister Dimitris Sioufas said Thursday.

The 285-kilometer Burgas-Alexandroupolis pipeline will link Bulgaria's port of Burgas and Greece's Alexandroupolis on the Aegean Sea. Its presumed capacity is 15 tons or 300,000 bpd, which is to rise to 700,000 barrels per day over three years.

The pipeline project costs aruond $750-$800 million. It will allow Russia to export oil through the Black Sea while bypassing the busy Bosporus Strait in Turkey.

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