Pipeliners

Sep 17, 2008 - Oil & Gas News - India has expressed keen interest in the over USD 11 billion Med Stream project, a multi-purpose offshore pipeline venture which can transport crude oil at cheaper rates to the country from Turkey. Officials from India, Turkey and Israel met for the first time on Saturday in the Turkish capital Ankara discussing technical issues of the Med Stream pipeline project. Indian state oil company IOCs Director B M Bansal, Undersecretary of Turkish Energy Ministry Selahattin Cimen and Director General of the Israeli Ministry of National Infrastructure Hezi Kugler had attended the meeting, Kuwaits news agency KUNA reported. The project to connect Turkey and Israel via the Mediterranean Sea is planned to transport oil, natural gas, water, electricity and fiber optic cables. Kugler, speaking to reporters after the meeting, said the project aimed at building a multi-purpose undersea pipeline linking, in its first phase, Turkey with Israel to transfer oil, natural gas, fresh water, electricity cables and fibre optics cables. The Indian side, he said, showed interest in this project specially with regards to the imports of crude oil instead of shipping it by tankers. Initial studies estimated the cost at eight billion euros, said Kugler. Technical studies should begin by end of this year and establishment of the pipeline might begin by the end of next year or in 2010.