Serbia said it would participate in a project of pan-European oil pipeline from Romania to Italy.
The relevant ministries of Serbia, Croatia and Italy would sign a memorandum of understanding in mid-January in Rome, Serbian Assistant Minister of Energy and Mining Slobodan Sokolovic said, adding that arrival of Slovenia's representatives is expected.
Sokolovic said that an agreement would be signed on the founding of a company for the development of the oil pipeline project whose primary task is the working out of needed studies and state accords.
According to assessments, the building of the 1,500 km oil pipeline from the Romanian port of Constanta to Italy's Trieste would cost around two billion euros ($2.4 billion).
The pipeline, which would pass 194 km across Serbia, would greatly improve the supply of the region of central Europe with Caspian oil and reduce its dependence on oil from the Middle East.
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Pan-European Pipeline To Include Serbia
Serbia will participate in a project of pan-European oil pipeline