Six countries have signed oil pipeline integration agreement

On Monday Croatia's capital Zagrebe saw the signing of an intergovernmental agreement to support the project of "Friendship" and "Andria" oil pipelines integration.

The document was signed by representatives from six countries - Russia, Belarus, Ukraine, Slovakia, Hungary and Croatia, that host a pipeline, the Russian embassy in Zagrebe told RIA Novosti. The Russian side was represented by Deputy Energy Minister Vladimir Stanev.

The agreement is concluded for 10 years and can be automatically prolonged for the same period.

During the signing procedure the participants stressed that the project would have great economic significance for stability in this European region.

The agreement on pipeline construction from Russia to Omishal /a place on the Croation coast/ was signed by several oil companies on April 29 in Moscow. The project envisaged the parties' cooperation in terms of Russian oil transportation to the Croatian port, Omishal, where it should be reloaded.

After the agreement is sighed the Croatian "JANAF" oil company will invest 50 million dollars into the project within a year, which will allow increasing opportunities of oil pumping across Croatia up to 10 million tons a year, "JANAF" Chairman Vesna Trnokop Tanta pointed out.