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Gold/Mining/Energy : Caspian Sea Oil
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To: Copperfield who started this subject5/21/2001 5:34:08 PM
From: Copperfield   of 41
 
NAFTOHAZ PLANS TO COMPLETE ODESSA-BRODY PIPELINE ....
AND PIVDENNIY TERMINAL BY END OF YEAR
The Naftohaz Ukraine company plans to complete construction of the Odessa-Brody petroleum pipeline and the Pivdenniy Oil Terminal by the end of this year, Yurii Yakymchuk, the head of Naftohaz Ukraine's Capital Construction Department said at a press conference on Monday.
"If the planned amount of financing is provided, we will build it and begin operating it by the end of this year. The pipeline will also be ready by the end of the year," Yakymchuk said.
According to Yakymchuk, Naftohaz Ukraine's enterprises - Prydniprovsk Petroleum Pipelines and Druzhba Pipelines - plan to invest around 300 million hryvnia in the construction projects in 2001.
In addition, 195.4 million hryvnia is provided in the 2001 budget for completion of the pipeline and terminal.
Yakymchuk stressed that the pipeline and terminal will be completed only if the state releases its share of the funds.
Last year, Naftohaz Ukraine did not receive the 67 million hryvnia in state budget funds that was intended for financing construction of the terminal.
According to Naftohaz, 584 of the 667 kilometers of the Odessa-Brody pipeline have been laid.
Only 25% of the Pivdenniy Oil Terminal has been completed.
The capacity of the pipeline and terminal's first phase is 9 million tons of petroleum per year.
Ukraine believes that transporting petroleum through the Odessa-Brody pipeline, and further through Druzhba's pipeline system to Slovakia and Hungary, is the cheapest alternative for delivering Caspian oil to Europe.
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