The European Union has granted Romania €2.1mn for a feasibility study aiming establish the best route for the planned crude oil pipeline aiming to link the Black Sea port of Constanta to the Adriatic port of Omisalij.
The feasibility study should also underline the technical assessment of the project as well as the total value of the needed investment for the Romanian segment.
The Romanian Economy and Trade Ministry has started to seek an international consultant for the project.
“A shortlist with possible consultants for this project is now assessed by the Finance Ministry, and we will be told about their opinion,” says Andrei Grigorescu, secretary of state with the Economy and Trade Ministry.
The pipeline aiming to link Constanta port to the Adriatic is seen as the short way for Caspian crude oil to reach western markets. The overall project is estimated at US$1bn.