Rosneft, Transneft to join Turkish pipeline project

Reuters - Russian energy companies Rosneft and Transneft are seeking 25 percent stakes in a planned Turkish oil pipeline, Russian Deputy Prime Minister Igor Sechin said on Wednesday. The pipeline, to be built by Türkiye's Calik Holding and Eni of Italy, will link the Turkish ports of Samsun and Ceyhan and has strong backing from the Turkish government. "It is anticipated that two Russian companies, Rosneft and Transneft, will join the project. They are now in negotiations, which are focusing on the size of the stakes, and at this point it looks like the stakes will be 25 percent," Sechin said. Ahmet Calik, chairman of Calik Holding, told reporters an agreement on the stake sizes was expected soon and a final agreement would be completed early next year.