Decision on Oil Terminal’s participation to the Constanta-Trieste project expected in December

A decision is expected on December 18. Both Oil Terminal and crude oil transporter Conpet Ploiesti were selected by the Ministry of Economy and Finance to take part at the project.

The construction of the pipeline will start from the Black Sea port city of Constanta, Southeast Romania and will pass through Romania, Serbia, Croatia and Slovenia before reaching Trieste in Italy.

Construction works are slated to begin two years after the companies created to develop the project start operating.

The project is intended to reduce Europe’s dependence on oil from Russia and the East and will roll on some 1,360 kilometers. Costs are estimated at 3.5 billion euros.

Romania will house 650 kilometers of the pipeline’s total length. The Romanian party will need to invest 100 million euros this year to upgrade and increase capacity at the Constanta terminal.

Sursa: NewsIn