Minister delegate for Energy: "Constanta-Trieste project has no longer any chance of success"

2014-06-07 22:24:04 - From the Print Edition

In late May, the Minister delegate for Energy, Razvan Nicolescu , visited both the headquarters and the dispatch of Conpet Ploiesti, the national transport system operator of crude oil by pipeline. On this occasion, the Minister announced that the Constanta – Trieste project will be most probably dropped. "One of the priorities of the Department of Energy is the improvement of the performance of the state companies in the portfolio," said Nicolescu. "This is why I think it is time to see that the Constanta - Trieste project no longer has any chance of success, although it is an interesting idea. Thus, we need to liquidate the project company, based in London, which generates annual costs for both Conpet and for Oil Terminal. Consequently, we′ll begin the legal steps necessary for the rapid liquidation of this company." The Pan-European Oil Pipeline (PEOP) is a proposed oil pipeline from Constanta in Romania via Serbia and Croatia to Rijeka and from there through Slovenia to Trieste in Italy. In 2008, representatives of Romania, Serbia and Croatia signed an agreement for the establishment of the project company Pan European Oil Pipeline Constanta – Trieste. Members of the project company are: Conpet and Oil Terminal from Romania, Transnafta (Serbia) and Janaf (Croatia).