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Tirana, March 2 (AENews) – AMBO President, Ted Ferguson, is expected to arrive today in Albania on a visit to discuss with local authorities regarding several aspects of the Trans-Ballkan pipeline project, daily newspaper Shekulli announced.

Unofficial sources from the Ministry of Industry and Trade in Tirana said that Mr. Ferguson will come to discuss project details regarding the area where the oil-pipeline will pass from the port of Vlora (south of Albania) on the Adriatic Sea and unto the Macedonian border.

The AMBO pipeline project (Albanian, Macedonian, Bulgarian oil) was first conceptualized in 1993 with the goal of creating an alternative route with a lower cost to bring Caucasian oil to the world market.

The project is to finish in 2009. It encompasses the construction of 850 km of pipelines, two pumping stations in Bulgaria, another pumping station to lower the oil pressure in Macedonia before it exits into the port of Vlora in Albania.

The project is estimated to cost about USD 1.3 billion. Meanwhile, Ferguson says he has secured about USD 900 million up till now. Construction of the AMBO project is expected to start this year after a long 10 year diplomatic battle.

"We have been waiting patiently for comments from the Albanian side since May 2005, so that we can move to the next step of finalizing the tripartite treaty between all three countries.  Mr. Ferguson was told that the Albanian comments would be ready by the end of February and we trust that they have kept their word in this respect so that there are no more delays" said official sources from AMBO.

The first agreement with Albania was signed in Spring 1994.

Corrected on March 3, 2005