23-07-08 A Turkish giant has been seeking European support for a multipurpose pipeline from Turkey to Israel. Turkey's Calik Group, which initiated the idea of the pipeline "Medstream", hopes it can get French backing for bankrolling feasibility studies for the costly project.
The Mediterranean Pipeline Project (Medstream) is planned to consist of five pipelines that will carry water, natural gas, oil, electricity and fibre optics from Turkey's Mediterranean coast to Israel. The project is forecast to cost $ 8 bn.

A Calik delegation met a French official on the sidelines of the Union for the Mediterranean summit, in Paris on July 13, on how to ensure financing for the project.
The oil pipeline is seen as an important step to reduce the time it takes to transport crude oil to eastern Asia. The project has been strongly backed by French officials.