Sokolović : Pan European Oil Line would cost 2.2 billion USD and it would cut expenses in Serbia by 40%

The results of the research carried out by company Hill pointed to the fact that the minimal capacity of Pan European Oil Line (PEOP) was 45 million tons on annual basis, said the assistant to the Minister of Mining and Energy, Slobodan Sokolović, and added that the projected maximal capacity of the oil line was 96 million tons of crude oil. The oil line would satisfy the high level of demand of Mid-European market for the oil from the Kaspian region.

It is necessary that the Contract on Understanding be signed for the sake of founding of development company by the member countries – Croatia, Romania, Serbia, Slovenia and Italy.

Preliminary options point to the fact that the most realistic capacity would be those of 60 million tons per year and it would cost 2.2 billion USD. PEOP would bring cut in transportation expenses in Serbia by 40% (over 30 million on annual basis)