Turkey is planning a US$10 billion project to build an oil refinery, an LNG terminal and a petrochemicals plant at the port of Ceyhan on its Mediterranean coast. A total investment outlay of US$10 billion has been calculated for the three plants. The government has started talks with leading international energy companies to build the project.
Turkey wants to promote Ceyhan as a hub for regional oil and gas trade, to avoid crowding in the only outlet for Russian and Caspian oil output between the narrow, congested Bosphorus straits and the passage through Istanbul.
14-Nov-05 
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