Bulgaria-Albania oil pipeline construction to be launched in summer 2007

Mar 14, 2007 01:00 AM

The construction of the Burgas-Vlora oil pipeline will begin in April or May 2007, Edward Ferguson, president of the project design company AMBO, said. The pipeline will pass through Bulgaria, Macedonia and Albania.
Pomorie port located in Bulgaria will be the starting project location. Bulgaria turned down the construction of one terminal.

AMBO is currently carrying out negotiations with engineer and construction companies interested in the project. Bulgarian engineering companies applied for participation.
Bulgaria, Macedonia and Albania signed a convention for the pipeline in the end of January 2007 and the parliaments of the three countries were about to ratify it soon.

The pipeline will be 900 km long and will cost $ 1.8 bn. It will probably start functioning in the end of 2010 or the beginning of 2011. Bulgaria will gain $ 60 mm per year from the pipeline.
AMBO still lacks contracts with an oil company, but a number of oil tanker owners are interested in the project.

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