Bulgaria, Greece and Russia, have endorsed the text of an agreement to build a long-stalled pipeline to channel Russian oil from the Caspian Sea to the Aegean, Bulgaria's regional development ministry has said.
The 280-km Burgas-Alexandroupolis pipeline, which will bypass Turkey's Bosphorus Straits, is expected to cost about $900 million.It will transport about 35 million tons of Russian oil per year with an option to later increase the capacity to 50 million tons.
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