OREANDA-NEWS. On March 16, 2007 Transneft’s Chief Executive Simon M. Vainshtock when participated in signing of the Intergovernmental Agreement on Burgas-Aleksandrupolis oil pipeline in Greece, expressed strong conviction that the project would have success: “ Transneft has no one unsuccessful project. I even don’t want to come up with an idea the project is to be failed. We really are doomed to have success”.

According to S. Vainshtock, “Burgas-Aleksandrupolis” pipeline will move the Black Sea basin’s oil. All participants of oil business in Black Sea basin will go through this pipeline”.
“ I can’t give a prognosis with regard to project cost, but it will be sufficiently lower than “Baku-Ceyhan”, he told journalists on Thursday in Athens.  Vainshtock also noted, that the signed Intergovernmental Agreement gives a right to have additional participants in this project from Bulgarian and Greece party. “ With these participants we’ll create international company and register its head office. Then participants will be provided by funds and announce contest to execute survey works and feasibility study and after that the decision on starting of the construction will be reached.”


Transneft’s President guaranteed that all these procedures would be fulfilled “ in the shortest possible time”. “ It will not be a year or two but much less”, Vainshtock said. At that he noticed, that “Transneft” would not invest funds into construction of this project. “ It’s a job of the consortium which will be raised funds on the external market”, Vainshtock underlined.