US, Russia Committed to Cooperate in Pipeline Projects – Bush Says

(Tbilisi, May 24, Civil Georgia) – “Private firms will take the lead in developing and transforming the vast energy reserves of Russia and the Caspian world to markets through multiple pipelines such as the Caspian Pipeline Consortium and Baku-Ceyhan,” US President Georgia W. Bush stated.

“Russia and the United States are committed to economic cooperation. And I want to thank you for the cooperation and the willingness to work together on energy and energy security,” President Bush said during remarks with Russian President Putin at signing of Joint Declaration on May 24 in Moscow.

Azerbaijani oil will be transported through the Baku-Jihan pipeline to the Mediterranean port of Turkey Jihan via Georgia. Construction of the pipeline is scheduled to start this year.