Odessa-Brody transit corridor issues

Stakeholders participating in the Odessa-Brody project approved the feasibility study for creating an oil transit corridor on the basis of the Odessa-Brody pipeline on April 24. It is planned that in the near future the project will be presented in Brussels as this will eventually attract more investment.

The feasibility study was conducted by Granherne Limited and its partners Purvin & Gertz and Greengate LLC. The study confirms the technical viability of the project and its competitiveness. It also confirms that there are enough oil reserves to make it viable in the Caspian Sea region. It concludes that from the town of Brody oil could be transported to Poland, Slovakia, the Czech Republic, Austria, Belarus and the Baltic countries.

The feasibility study states that by 2015 oil extraction in the Caspian region will be increased by 100 million tonnes annually and by 2015 by 150 million tonnes annually, which could be exported. It confirms the demand for Caspian Oil in Europe.

The project envisages supplying five to ten million tonnes of Caspian oil to Ukraine, the Czech Republic, Slovakia and some other consumers in Central and Eastern Europe annually. Gradually this supply will increase.