http://www.thepeninsulaqatar.com/Display_news.asp?section=Business_News&subsection=market+news&month=December2006&file=Business_News2006121681356.xmlankara • Turkey and Israel have agreed to build a pipeline linking the Black and Red seas, Turkey’s energy minister said yesterday, in a move boosting the Jewish state’s energy security and Turkey’s role as an energy hub.
The pipeline project will involve transportation of oil, natural gas, electricity, water and fibre optic cables, the minister, Hilmi Guler, told reporters.
Turkey, a candidate for European Union membership, aspires to become a major hub for energy exports from Russia and the Caspian basin to markets in Europe and beyond. Turkey is also one of the few Muslim countries to foster strong trade and security ties with the Jewish state.
“This project will have very important consequences for regional stability and development and for political developments,” Guler said. He gave no price for the project but said Turkey was in talks with Russia and other countries on participation in it.
“The project’s feasibility study will be completed in six months and then implementation will begin,” Guler said.
A 550km pipeline is currently under construction linking Turkey’s Black Sea port of Samsun and Ceyhan on its Mediterranean coast. It is expected to have an annual capacity of 60 million to 70 million tonnes of crude oil. “As this project is an extension of the Samsun-Ceyhan pipeline, (Turkey’s) Calik group will also take part in the construction,” Guler added.