http://ap.tbo.com/ap/breaking/MGBRIFO1G7E.htmlSOFIA, Bulgaria (AP) - Bulgaria, Greece and Russia signed a 522 million euros ($677 million) agreement Tuesday for the construction of a trans-Balkan pipeline that will bypass Turkey's busy Bosporus strait.
The deal was signed by the development ministers of Bulgaria and Greece, Valentin Tserovski and Dimitris Sioufas, and Russian Industry and Energy Minister Viktor Khristenko.
Under the long-delayed deal, a 177-mile pipeline will be completed by the end of 2007 to link Bulgaria's port of Burgas to Greece's Alexandroupolis on the Aegean Sea. Initial talks on building the pipeline began in 1993 but were delayed because of disagreements over its cost, ownership and feasibility.
Russia exports about a third of its oil production through the Black Sea and the pipeline will allow it to bypass the crowded and dangerous Bosporus in Turkey, minimizing delays and potential environmental disasters.
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