Countries take equal stakes in Odessa-Brody-Plotsk-Gdansk Project, leaving 1% for Lithuania

Countries take equal stakes in Odessa-Brody-Plotsk-Gdansk Project, leaving 1% for Lithuania
# 18 October 2007 16:12 (UTC +04:00)
He added that the project will enable the State Oil Company of Azerbaijan (SOCAR) to get an access to the world market and Polish companies to learn from SOCAR’s lesson.
The consortium president expressed hope that Kazakhstan will join the project.
“Feasibility study of the project will be complete in the year-end or early next year and construction work will commence. Sarmatia will tomorrow have a board meeting with its previous composition – Ukrnaftagaz and PERN. The large-format meeting will be held in Kiev with presence of new participants – Azerbaijan, Georgia and Lithuania. Thius meeting will discuss items of Vilnius agreement.
He added that the participating countries have taken equal stakes, leaving only 1% for Lithuania.
“By the project, the pipeline will go in two lines from Southern Ukraine via Brody to Slovakia, Czech Republic and Hungary or Belarus-Poland-Germany route. A 300km long pipeline will run from Brody to Adamova at the border with Belarus, ad onward to Polish Company Orlen’s refineries. One of these refineries is located in Gdansk and the other in Germany. This pipeline carries 51 tons of oil annually. After construction, this figure will reach 78 million tons,” he added.
He noted that PERN-owned oil tanks hold 2.8 million tons of oil. /APA-Economics/

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