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Pan-European oil pipeline project presented
Belgrade,
30 May 2005
Serbian Assistant Minister of Mining and Energy Slobodan Sokolovic said that the interstate committee, which will hold its fifth meeting in Belgrade tomorrow, will address the building of a Pan-European oil pipeline connecting the Romanian port of Constanta, through the territories of Serbia and Croatia, with refineries in central Europe.
Sokolovic told a press conference that at tomorrow’s meeting, a decision will be made as to the setting up of a company for the project of a new oil pipeline. This company in turn will provide all the necessary studies, licences and interstate agreements to facilitate in the process of offering the project to potential investors.
He added that tomorrow’s meeting will also be attended by representatives of Slovenia and Italy, as the two countries have expressed previous interest in joining the project.
Sokolovic noted that according to a preliminary feasibility study created by US firm Parsons, a $2.4 billion investment will provide capacities for the supply of nearly 60 million tonnes per year.
According to him, construction of the pipeline would provide the most efficient way to transport Caspian and Russian crude oil from the terminal in the Black Sea port of Constanta to central Europe.
The pipeline would supply refineries in central Europe, including Trieste, through Serbia and Croatia, he said.
The Pan-European oil pipeline is being financed by the EU and was first envisaged in September 2002, when Romania, Croatia and Serbia-Montenegro signed an interstate agreement on oil and gas transportation.
He added that tomorrow’s meeting will also be attended by representatives of Slovenia and Italy, as the two countries have expressed previous interest in joining the project.
Sokolovic noted that according to a preliminary feasibility study created by US firm Parsons, a $2.4 billion investment will provide capacities for the supply of nearly 60 million tonnes per year.
According to him, construction of the pipeline would provide the most efficient way to transport Caspian and Russian crude oil from the terminal in the Black Sea port of Constanta to central Europe.
The pipeline would supply refineries in central Europe, including Trieste, through Serbia and Croatia, he said.
The Pan-European oil pipeline is being financed by the EU and was first envisaged in September 2002, when Romania, Croatia and Serbia-Montenegro signed an interstate agreement on oil and gas transportation.
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