11 June 2007
Romania's state-owned company Oil Terminal, the biggest oil terminal in south-eastern Europe in Constanta, has joined the international consortium to implement the Pan European Oil Pipeline (PEOP) project, which aims to transport Caspian oil from Constanta to Trieste.
The regulations of the consortium in the Oil Terminal in Constanta will be specified next month by Mircha Taiss, head of the development programs of the company APA Eastern Europe.
The main aim of the Constanta-Trieste pipeline that will unite Romania's port on the shore of Black sea and Italy's port on the shore of the Adriatic Sea, is to bypass the Bosporus strait. The influence of non-EU member Turkey will be avoided and European countries will be provided with non-Russian oil, especially from Kazakhstan and Azerbaijan.
Romania will share 650km of this pipeline and will unite Romania, Serbia, Croatia, Slovenia and Italy, with access to the Transalpine pipeline from Trieste to Hamburg.
Source: The Diplomat