Construction of Burgas-Vlora oil pipeline to start this summer, says Ferguson

TIRANA, March 14 – Edward Ferguson, president of the project design company AMBO, said that the construction of the Bourgas- Vlora oil pipeline will begin in April or May 2007. Pomorie port located in Bulgaria will be the starting project location. Bulgaria turned down the construction of one terminal. AMBO is currently carrying out negotiations with engineer and construction companies interested in the project. Bulgaria, Macedonia and Albania signed a convention for the pipeline in the end of January 2007 and the parliaments of the three countries were about to ratify it soon. The pipeline will be 900 km long and will cost $1.8 billion. It will probably start functioning in the end of 2010 or the beginning of 2011. AMBO still lacks contracts with an oil company, but a number of oil tanker owners are interested in the project.