Russia in oil and gas deals with Turkey

MILAN, Italy, Oct. 20 (UPI) -- Three Russian oil companies signed agreements with their Turkish and Italian counterparts to move forward with the Samsun-Ceyhan oil pipeline.

Russian oil companies Rosneft, Transneft and energy transport company Sovcomflot signed an agreement with Turkey's Calik Enerji and Italy's Eni on the pipeline to bring Caspian oil through Turkey to the Mediterranean.

Eni said the memorandum of understanding is related to "the definition of the economic and contractual conditions" for Russian involvement in the project, RIA Novosti reports.

Igor Sechin, deputy Russian prime minister and chairman of Rosneft, said independent oil producer LUKoil might play a role in the project as well.

"Other Russian companies, in particular LUKoil, are showing an interest in supplies," he said. "We are also holding talks with third countries."

Turkish Energy Minister Taner Yildiz, for his part, said the project would bring energy security to European customers. Most of Europe's gas from Russian travels currently through Ukraine.

Samsun-Ceyhan would carry more than 1.2 million barrels of oil per day. Turkey launched the $1.5 million project with Eni in2007.

Moscow said Monday that Turkey also agreed to move ahead with construction of the South Stream natural gas pipeline.