Romanian, Serbian companies speed up Constanta-Trieste oil pipeline project.

By bne IntelliNews August 27, 2010
The two Romanian companies involved in Pan European Oil Pipeline (PEOP) project, namely Conpet and Oil Terminal, met their Serbian counterpart Transnafta and decided on speeding up the construction of their segments of the pipeline - namely Pitesti-Pancevo segment. The Romanian government explained that Azerbaijan and Kazakhstan peers are interested in supplying oil for the pipeline. We recall that Romania, Serbia, Croatia government signed an agreement on PEOP back on April 22, 2008 - while Italy was expected to join the project afterwards. However, not only that Italy has not appointed a company to partake the project, but Croatia's Janaf did not formally join the project either. The 435km-long pipeline project agreed upon by Romanian an Serbian companies this week upon a meeting in Romania is expected to cost EUR 20.5mn out of which only EUR 22mn on the Serbian territory (55km). The new segment would allow the transfer of crude oil from the Caspian region to the Serbian refinery in Pancevo. Initially, the whole 1,360km -long PEOP project was expected to cost EUR 3bn.

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