Oil pipeline joint venture

SEVEN companies from Bulgaria, Greece and Russia have agreed to form a joint venture to build the Bourgas-Alexandroupolis oil pipeline that will take Russian oil from the Caspian to the Aegean Sea.

It will allow Russian oil from the Caspian Sea to be transported from the port of Novorossiisk on the Black Sea by tankers to Bourgas and to reach Alexandroupolis through the overland pipeline.