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Five EU countries will construct new oil pipeline
4 April 2007Last night five European countries (Romania, Serbia, Croatia, Slovenia and Italy) have signed the agreement on construction of the pipeline from the Black Sea coastline up to Italy. This pipeline will deliver oil from the Caspian pool to the countries of the European Union.
The project will be carried out within the limits of the general strategy of the EU directed on reduction of its power dependence on Russia and other Near East countries.
The pipeline should pass from port Constance (Romania) up to Trieste in Italy; its length will make 1400 km. The experts foresee that the realization of this project will manage in $3, 5 billion and it is supposed, that by 2012 about 90 million tons of oil a year will be pumped over this oil pipeline.
According to the EU Power commissioner this project will be carried out “according to the policy of diversification and a safety of power deliveries by modernization and construction of a new power infrastructure”. The EU considers Caspian Sea as a region which will supply its markets with oil.
However, it is not the first attempt to adjust the delivery of the Caspian oil to the Western Europe, bypassing the territory of Russia. Last year Baku-Tbilisi pipeline, which passes through the territory of three countries - Azerbaijan, Georgia and Turkey- has been constructed. In 2002 in Ukraine construction of the pipeline, which settlement capacity made 14 million tons of oil a year, has been completed. Now it is a high time for the EU to demonstrate its independence from Russian power policy.
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