Q:
A:
Agreement on Pan-European oil pipeline signed
Belgrade/Bucharest,
22 April 2008
Serbia, Romania and Croatia signed today in Bucharest the agreement on associating companies which will take part in the construction of the Pan-European oil pipeline (PEOP), whose projected cost is around $3.5 billion.
The Serbian delegation comprised representatives of the Ministry of Energy and Mining and the Serbian company Transnafta, which the government appointed as the project leader in Serbia.
In the next month and a half, a development company PDC will be founded in London, and legal experts from all five signatory countries are to harmonise their stances and prepare the necessary documentation to register the new company tasked with implementing the PEOP.
The construction of the pipeline, whose estimated annual capacity is 60–90 million tonnes, is to cost around $3.5 billion and construction of the section through Serbia is estimated at $300 million.
The construction of the PEOP will help transport oil from the eastern section of the Black Sea to the European market.
Last April in Zagreb, a ministerial declaration on construction of the Pan-European oil pipeline was signed, which confirmed the EU’s political support for the project and that of those countries through which the pipeline will traverse.
The pipeline will be 1,400 kilometres long and is to traverse Romania, Serbia, Croatia and Slovenia, and then reach Italy.
In the next month and a half, a development company PDC will be founded in London, and legal experts from all five signatory countries are to harmonise their stances and prepare the necessary documentation to register the new company tasked with implementing the PEOP.
The construction of the pipeline, whose estimated annual capacity is 60–90 million tonnes, is to cost around $3.5 billion and construction of the section through Serbia is estimated at $300 million.
The construction of the PEOP will help transport oil from the eastern section of the Black Sea to the European market.
Last April in Zagreb, a ministerial declaration on construction of the Pan-European oil pipeline was signed, which confirmed the EU’s political support for the project and that of those countries through which the pipeline will traverse.
The pipeline will be 1,400 kilometres long and is to traverse Romania, Serbia, Croatia and Slovenia, and then reach Italy.
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