Romania and Serbia continue realization of Pan-European oil pipeline

Source: Beta Friday, 12.02.2010. 13:29
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Companies from Serbia and Romania made the decision yesterday (February 11, 2010) to continue realization of the construction of Pan-European oil pipeline (PEOP) together, in spite of the decision of Croatian Janaf to temporarily discontinue its participation in the project.

The President of the Administrative Board of Transnafta, Bratislav Čeperković, said to the press after the meeting in Belgrade that that Serbian public company and Romanian companies Conpet Ploiesti and Oil Terminal Constanta would resume implementation of the project through development of the first phase of oil pipeline between Constanta and Pančevo.

- There are six refineries and big consumers on the route of that section of the oil pipeline, which justifies such investment - said he.

Čeperković also said that the joint venture for realization of PEOP would be recomposed and that it would be formed again by Transnafta and the Romanian companies as three stockholders. He also added that the other partners would be made possible to join the implementation of the project.

- After seven-month break caused by the decision of the Croatian side, which presides the interstate committee and the joint venture for realization of PEOP, it was clear to us that we had to move from the dead point - said he.

Čeperković estimated that the project would be also realized if other companies and states gave up PEOP, but the capacity of oil transport would be smaller in that case.

The CEO of Romanian oil transport company Conpet Ploiesti, Klaudiu Kolesiu, said that the significant steps were taken towards continuation of the project's realization.

Kolesiu announced that concrete responses concerning further continuation of the project's realization would be known after the meeting in Romania in April.

PEOP is the joint project of Romania, Serbia, Croatia, Slovenia and Italy, which should enable transportation of Russian and Caspian oil to European Union (EU).
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