The Israeli firm Merhav brokered a $2.5 billion deal to build a natural gas pipeline from Turkmenistan to Turkey, bypassing Iran by crossing the Caspian Sea. Two U.S. firms, General Electric and Bechtel, recently signed a memorandum of understanding in the former Soviet republic of Turkmenistan declaring their intention to build the pipeline. The president of Merhav said he expected other companies from the United States, Europe and Japan to join the pipeline consortium.
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