Final declarations on Odessa-Brody extension coming soon

Final declarations on Odessa-Brody extension coming soon

The starting point of the Odessa-Brody pipeline in Ukraine. On September 27, the parties will agree on the creation of the new Sarmatia company for the extension of the pipeline to Poland
NEW EUROPE/KOSTIS GEROPOULOS
Poland is certain that Azerbaijan, Georgia and Lithuania will make final declarations on joining the Polish-Ukrainian oil pipeline company Sarmatia during a summit of the five nations interested in the project in Georgian capital Tbilisi on September 27, Poland's Economy Minister Piotr Wozniak said on September 6.


"On September 27, the parties will agree on the creation of the new Sarmatia company with a business plan for the extension of the Odessa-Brody pipeline to Poland," Interfax quoted Wozniak as telling a press conference during the Economic Forum in Krynica.


Poland hopes to diversify its energy supplies, reducing the present near-total dependence on imports from Russia, by reversing the flow of a pipeline between the Black Sea port of Odessa and Brody, near the Polish-Ukrainian border, and its extension on to Adamow, on the Polish-Belarussian border, from where it will connect to an existing pipeline to the refinery at Plock.


Companies from Azerbaijan, Georgia and Lithuania said in June they would join the project. Wozniak said Lithuania would have roughly one percent of shares in the new Sarmatia company, while Azerbaijan, a key potential supplier of crude for the pipeline, will have around 24 percent. Wozniak also denied earlier press reports, according to which Azerbaijan would reduce its involvement to only one percent.


"Other parties are also welcome to join the project," the economy minister said. "Slovakia is also potentially welcome, as is Kazakhstan. We are open to all non-passive investors."