Russian exec says Chevron could help revive Burgas-Alexandroupolis pipeline – report

Written by on May 26, 2015 in Business - Comments Off on Russian exec says Chevron could help revive Burgas-Alexandroupolis pipeline – report

US oil firm Chevron has shown interest in reviving the proposed Bourgas-Alexandroupolis oil pipeline, reports in Russian media said on May 26, quoting a senior executive at a Russian state-owned pipeline company.

Transneft president Nikolay Tokarev made the claim in an interview with news agency Tass, saying that Chevron’s interest was piqued by the expansion of the Caspian Pipeline Consortium (CPC), which plans to increase its annual capacity from 35 million tonnes to 67 million tonnes by the end of 2016.

Russian business daily Vedomosti reported, meanwhile, that its attempts to get a comment from Chevron were not answered.

The CPC pipeline pumps oil from the Kazakh and Russian parts of the Caspian Sea to the Novorossiysk port on the Black Sea, from where it is shipped using oil tankers, but the additional shipments would face a difficult time in passing through the Bosphorus Strait, Tokarev said.

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(Oil tanker crossing the Bosphorus, photo: alumbis/flickr.com)

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