Oil Terminal shareholder to decide on Constanta-Trieste pipeline participation

Constanta-based Oil Terminal and Ploiesti-based Conpet were chosen by the Economy Ministry to join the multinational consortium created for the construction of the pipeline. "The aim of the pipeline is to avoid the Bosphorus Straight, as Turkey is not a member of the EU, and to supply EU members with non-Russian oil, especially from Kazakhstan and Azerbaijan, Oil Terminal's Development Manager, Mircea Taiss, said earlier this year.

The costs of the project are estimated at some €3.5 billion. The pipeline has been designed to be 1,350 km long, with 650 km on Romanian territory, and it will also cross Serbia, Croatia, Slovenia and Italy. (NewsIn)