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Action stations for Pan-Europe link



By Upstream staff 

The Pan-European oil pipeline project came one step closer to reality today after top energy officials from Romania, Serbia, Croatia, Slovenia and Italy signed a declaration to build the link, which will connect the Black Sea with Italy and carry oil from the Caspian to the European Union.

The project fits with Europe's aim of reducing its reliance on Russia and the Middle East for its energy needs.

Today's signing was in effect a declaration to start work on the 1400 kilometre link between Constanta, in Romania, to the Italian port city of Trieste, worth between $2 billion and $3.5 billion. The new pipeline will a capacity of between 1.2 million barrels oer day and 1.8 million bpd.

"It is in line with the policy of securing and diversifying energy supplies for the European Union by upgrading and constructing new energy infrastructure," said the declaration, also signed by EU Energy Commissioner Andris Piebalgs.

The pipeline, due for completion by 2012, will supply refineries in northern Italy and central Europe with crude from the Caspian. The declaration said the route may also be used for natural gas.

Most parts of the future Pan-European Oil Pipeline are already in place. It is necessary to build a part connecting the Romanian city of Pitesti with Pancevo in Serbia, and a stretch between Croatia's northern Adriatic through Slovenia to Trieste.


Tuesday, 03 April, 2007, 12:37 GMT  | last updated: Tuesday, 03 April, 2007, 13:15 GMT

Signing on the dotted line: European Union Energy Commissioner Andris Piebalgs (left) and Croatian Prime Minister Ivo Sanader
 

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