Slovakia, Hungary, Romania and Bulgaria agreed on the construction of the pipeline
Slovakia, Hungary, Romania and Bulgaria are close to signing the memorandum on the construction of the Eastring pipeline from the Slovak-Ukrainian to Bulgarian-Turkish border.
This was reported by the Slovak portal Aktuality.
The presentation of the Eastring pipeline was held in November last year. In December, there were meetings with potential partners and government representatives of the countries the pipeline will pass through. At the same, negotiations with representatives of the European Commission were conducted.
The Eastring funding will be carried out from three main sources. First, it will be a consortium of participating companies in Slovakia, Bulgaria, Romania and Hungary.
The second source of funding is the EU, since this project is in line with the concept f the European Commission. Other funding sources may be a commercial bank or the European Investment Bank.
The countries formed working group of representatives from state gas transportation systems.
The pipeline capacity will reach 20 to 40 billion cubic meters per year. The length of the pipeline, depending on the project, will be 744 km to 1015 km. The estimated investment cost for the first phase of the project is 1.3 billion euros.
The commencement of the pipeline is scheduled for 2018.