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U.S. retains security coordinator to work with Abbas, not Hamas

SPECIAL TO WORLD TRIBUNE.COM
Tuesday, March 20, 2007

GREECE JOINS RUSSIAN PIPELINE MOSCOW — Greece has joined a pipeline project designed to deliver Russian crude oil to Western Europe.

On Thursday, Bulgaria, Greece and Russia signed an agreement to build a $1.3 billion pipeline to transport Russian oil to the northern Greek port of Alexandroupolis. The 300-kilometer pipeline, designed to carry 1 million barrels of oil per day, was meant to pass through the Bulgarian town of Burgas.

Under the agreement, Russia would have a 51 percent stake in the pipeline. Bulgaria and Greece would control 24.5 percent each.

Russia supplies about 30 percent of Europe's oil and 40 percent of its natural gas. Russian President Vladimir Putin said the pipeline route could be revised to avoid environmental damage.

TURKEY PLANS TENDER FOR OIL SEARCH IN MED Meanwhile, Turkey intends to launch an international tender to explore for crude oil in the eastern Mediterranean.

Turkish Petroleum Corp. chief executive officer Osman Dinc said his company would launch a tender in late March for oil exploration in the Mediterranean. Dinc said Ankara would begin exploration with foreign contractors in July or August 2007.

Ankara plans to conduct seismic studies west of Cyprus between Egypt and Turkey in the spring of 2007, Dinc said. The Republic of Cyprus has also announced plans to explore for energy in the eastern Mediterranean.

"We hope to see foreign partners with us in July or August," Dinc said. "Oil exploration will start this year. We hope that we will get good results from these seismic works and launch bigger and more expensive projects in 2008 and 2009."


Copyright © 2007 East West Services, Inc.

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