Romania, Croatia and Serbia signed, yesterday, in Bucharest, "the birth certificate" of the first Pan European pipe that will transport oil form Constanta to Trieste (Italy).
According to the agreement signed yesterday by the representatives of the three sates, the company that will construct the pipe, know as PEOP ((Pan European Oil Pipeline), will be founded in London, in less than 45 days. The company will be led by a neutral manager.
Romania, Croatia and Serbia are waiting for the other countries involved in the project, Italy and Slovenia, to appoint their participating companies, so that the project will benefit from a strong start. "Without Italy and Slovenia there will be no project", said Vladimir Vrankovic, the representative of the Croatian company JANAF.
The pipe construction is estimated to about 3 billions euro. The project will reduce the European Union's energetical dependence to Russia and the Middle East countries.
The pipe will transport 60-90 million tons of oil per year. The Romanian authorities sustain the involvement of Gaz de France and Kazahstan in the PEOP construction. Kazahstan already announced that it is willing to deliver oil trough this pipe.