TURKEY AND ISRAEL TO BUILD FOUR UNDERWATER OIL AND GAS PIPELINES

Yerkir
02.05.2006 14:06

YEREVAN (YERKIR) - Turkey and Israel plan to build four underwater
pipelines to transport oil and gas from Russia to Israel, the
Palestinian Autonomy, Jordan, and Lebanon, The Washington Times
inform, stressing that India, which needs additional fuel supply,
expressed its interest in the project too.

According to statements of Turkish and Israeli officials, the project's
technical and economic assessment (evaluated at $50 millions) is
financed by the European Investment Bank (headquarters in Luxembourg).

According to Israeli National Infrastructure Ministry Spokesman
Gabriel Levi, Israel is to become main beneficiary of the pipeline
system. He forecasts that 40% of Israeli energy resources will be
covered by imported gas by 2010.

Spokesman for the Turkish embassy in Tel-Aviv Mekhmet Kemal Bozay
stated that the matter concerns "long-term project," which will
finally favor Lebanon, Jordan, and the Palestinian Autonomy. He
stressed that underwater pipeline is environmantally safer than oil
supply by tankers, and pointed out that Turkey is not interested in
flow increase of tankers, passing through Bosporus.

According to the newspaper, Russian Gazprom Company supports
the project too, taking into consideration potential of Israeli
market. Also, the edition points out to recent talks of Israeli Prime
Minister Ehud Olmert with Gazprom CEO Alexei Miller.

From: Emil Lazarian | Ararat NewsPress