SARMATIA approved Feasibility Study of Euro-Asiatic Oil Transportation Corridor

27 April, 2009
The feasibility study for Euro-Asiatic oil transportation corridor on basis of Odessa-Brody Pipeline is approved.

The decision was made by the meeting of shareholders of the company SARMATIA on April 24th, 2009.

Feasibility study was developed by GRANHERNE LIMITED and its sub-contractors, Rurvin & Gertz and Greengate LLC upon request of SARMATIA.

In the study technical, economical and market aspects for the project implementation is analyzed and recommendations regarding the project financing and structural management is given.

The feasibility study confirms the technical potential, economical rationality and competitiveness of the project.

At the meeting of shareholders the President of Ukraine, Viktor Iushchenko declared that the approval of feasibility study of the project gives possibility in the near future to present it in Brussels.

The presidents of participant countries of Odessa-Brody-Plock-Gdansk Pipeline project signed the document in Krakov on May 11, 2007 and the ministers signed it in Gdansk on June 5, 2007 that supported the idea of building the corridor for Caspian oil transportation to European and World markets. The project Odessa-Brody was prepared by Ukraine in 90s of last century. The initial aim of the project was transportation of Caspian oil to Central and Northern Europe. "Odessa-Brody" Pipeline was officially launched in August 2001. In May, 2003 Ukraine, Poland and EU signed the declaration on supporting the Caspian oil transit through "Odessa-Brody" pipeline and also its extension up to Plock and further to Gdansk via existing pipeline