Russian deputies call on government to accelerate Blue Stream project

Oct 01, 1999 02:00 AM

Russian deputies called on the government to speed up an offshore gas project which would transport gas to Turkey through the world's deepest pipeline, the Interfax news agency said. All the Russian deputies present in the State Duma lower house of parliament, except one who abstained, voted in favour of a resolution to press the government to accelerate the Blue Stream project.
Blue Stream is a joint venture between Russia's Gazprom and the Italian group Snam, a filial of ENI, that was launched after the two groups signed a strategic alliance in February 1998. The two companies would lay the deepest offshore gas line in the world leading from Russia to Turkey through the Black Sea. At certain points, the pipeline would be laid at depths of up to 2,150 metres (7,095 feet).
But the project has been delayed for administrative reasons. Moscow approved tax breaks for the project and transmitted these to Ankara but the Turkish-Russian treaty on Blue Stream has still not been signed.
The construction of the pipeline is expected to cost $ 2.5 bn (2.65 bn euros). Once operational, it will transport a total of 365 bn cm (12.8 tcf) of gas to Turkey over 25 years, Interfax said.

Source: AFP via Iinoil
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