Green light for oil pipeline Konstanza-Pančevo-Trieste – Declaration signed in Zagreb

The ministerial Declaration on construction of Pan-European oil pipeline Konstanza- Pančevo-Trieste, of which value is estimated to about 2 billion USD, was signed yesterday (April 3, 2007) in Zagreb. The Declaration was signed by the ministers of energy of Serbia, Romania, Croatia, Slovenia and Italay and European Commissar for Energy Andris Piebalgs.

Starting from 2011, the Pan-European oil pipeline will be used to transport oil from the Caspian and Uralian area to European market. One of the signers, the Minister of Mining and Energy of Serbia, Radomir Naumov, stated at the press conference that the signing of that document was not only important segment for final realization of the project, but also the new impulse to the process of integration of the entire region into European Union.

Naumov added that the construction of Pan-European oil pipeline had both economic and energy and ecological importance for all countries that were directly included in its realization, as well as for the entire region and EU. It also has additional dimension of the opening of the new field of collaboration between the countries that signed the Declaration and, in that way, it solidifies the process of integration of the territory of southeast Europe into European Union.