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NEWS: Balkan Oil Pipeline To Be Built

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posted on Dec, 28 2004 @ 06:45 PM
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A long sought after pipeline has been given the go-ahead to be built from the Black Sea to the Mediteranean via Bulgaria, Macedonia and Albania. The pipeline is being built by the US registered Albanian Macedonian Bulgarian Oil Corporation. Construction is likely to begin in 2005 and take three or four years to complete.
 



news.bbc.co.uk
Albania, Bulgaria and Macedonia has given the go ahead for the construction of a $1.2bn oil pipeline that will pass through the Balkan peninsula.

The project aims to allow alternative ports for the shipping of Russian and Caspian oil, that normally goes through Turkish ports.

It aims to transport 750,000 daily barrels of oil.

The pipeline will be built by the US-registered Albanian Macedonian Bulgarian Oil Corporation (AMBO).

The 912km pipeline will run from the Bulgarian port of Burgas, over the Black Sea to the Albanian city of Vlore on the Adriatic coast, crossing Macedonia.


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"This is one of the most important infrastructure projects for regional, EU, and Euro-Atlantic integration for the western Balkans," said Albanian Prime Minister Fatos Nano.

This pipeline will be capable of carrying 750 thousand barrels a day. It has support of the EU and nearly a billion dollar investment from the Overseas Private Investment Corporation, a US development agency.

Proposed Route:




[edit on (12/28/0404 by PistolPete]




 
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