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Shell to Take 33% Stake in Turkish Oil Pipeline, MEES Reports

Bloomberg

 

 

Shell to Take 33% Stake in Turkish Oil Pipeline, MEES Reports 

 

By Maher Chmaytelli

May 30 (Bloomberg) — Royal Dutch Shell Plc will take a 33 percent stake in a Turkish oil pipeline planned by Eni SpA and Turkey’s Calik Group, the Middle East Economic Survey reported.

Shell would use the link to transport crude from the Kashagan field in Kazakhstan, the Cyprus-based weekly newsletter said, without saying where it got the information. Shell and Eni are major shareholders in the Kashagan development, due to come on stream in 2012 or 2013, according to MEES.

The Trans-Anatolian Pipeline Co. project will carry crude from the Black Sea town of Samsun to the Mediterranean port of Ceyhan, bypassing the crowded Bosporus Straits.

To contact the reporter on this story: Maher Chmaytelli in Nicosia at[email protected]

Last Updated: May 30, 2008 10:34 EDT

 

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