Yushchenko to initiate creating Baltic-Black Sea-Caspian Energy Transit Commonwealth

12:16, 07 May 2008
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At Energy Summit in Kyiv

The key issue on agenda of the Energy Summit due in Kyiv on May 22-23 will be the initiative of President of Ukraine Victor Yushchenko on creating the Baltic-Black Sea-Caspian Energy Transit Commonwealth.

According to an UNIAN correspondent, Ukrainian President’s Commissioner for international energy security issues Bohdan Sokolovskiy claimed this to a press conference in Kyiv today.

This commonwealth will help creating a new culture of energy transit in the spirit of the European Energy Charter, and will provide balance of interests between producers, consumers, and transiters of energy, he said.

“The main aim of the Commonwealth is to provide a reliable and secure oil and gas transit at optimal rates”, B.Sokolovskiy said.

According to him, another important topic for discussion at the Energy Summit will be the operation of Odessa-Brody oil pipeline.

In the nearest months, the oil pipeline will work in an averse regime, which corresponds to the energy security strategy of Ukraine, he noted. Besides, several variants of its branches will be worked out: towards northern, western, and eastern directions, in addition to already existing trunks.

He expressed a belief that this oil pipeline will become of great importance for European consumers, as well as for exporters of the Caspian region.

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