TNK-BP started studying investment conditions for Samsun-Ceyhan pipeline that allows bypass overloaded Black Sea straits onshore Turkey, Trend reports with reference to Kommersant. The company officials say the final decision had not been made to date but it would be economically expedient to install only one pipeline.
TNK-BP is a coordinator of competitive design of installation of an oil pipeline between Burgas of Bulgaria and Alexandrupolis in Greece.
Last week Sabah reported that directors of TBK-BP notified local authorities of their intention to obtain a stock in Samsun-Ceyhan pipeline equal to those of other two investors, Eni Calik Group. Turkish edition says negotiations are already lead with Calik Group on this matter. TNK-BP officials said they already examine different variants and still do not refuse from Burgas-Alexandrupolis. В"Samsun-Ceyhan design operators drew the feasibility study in late June 2006. Prior to making the final choice in favor of one or another design, we will review all the routesВ", TNK-BP representative told Kommersant.
TNK-BP representative added the company was considering not direct participation in the project but in consortium with Rosneft and Gazpromneft, which also intended to invest in Burgas-Alexandrupolis project.
The 550km long Samsun-Ceyhan pipeline has a design throughput capacity 50mln ton/year to be raised to 70 mln ton/year. The design cost is $1.5 to 2bn. In spring 2005 Russia, Bulgaria and Greece signed a memorandum for construction of oil pipeline Burgas-Alexandrupolis with throughput capacity 35-50mln ton/year. However, transit countries did not yet agreed on oil transit fees.