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Sarmatia's participants prepare to elect head of board

Oil&Gas Materials 30 August 2010 18:32 (UTC +04:00)

Azerbaijan, Baku, August 30 / Trend E. Ismayilov /

A new chairman of the board will be appointed at an extraordinary general meeting with participation of participants of the international company Sarmatia September 16 instead of Marchin Yastshembski resigned in June, Sarmatia international pipeline company director general Sergei Skripka told Trend over phone.

"The meeting, to be held today, was postponed to September 16, due to technical reasons. The reaon was the failure of one of the participants to arrive, and specifically our Georgian colleagues," he said.

Sarmatia was created under the project of oil transportation via the route Odessa-Brody-Gdansk-Plotsk. Azerbaijan has the role of one of the major suppliers in this route. But Azerbaijan can operate as a transit country. Azerbaijan can supply not only its oil, but oil from Central Asia, for example from Kazakhstan via this pipeline.

Oil transportation project "Odessa-Brody" was to diversify oil supplies to Ukrainian refineries and develop transit potentialities of the country. The construction of the Odessa-Brody pipeline was completed in May 2002. Trunk has a length of 674 kilometers, pipe diameter - 1,020 mm. Capacity of the first stage of the pipeline and the terminal is 9-14 million tons per year.

Participants of Sarmatia are SOCAR (State Oil Company of Azerbaijan), Georgian Oil and Gas Corporation Ltd. (GOGC), Ukrainian Ukrtransnafta, Polish Przedsiebiorstwo Eksploatacji Rurociagow Naftowych Przyjazn SA and Lithuanian AB Klaipedos Nafta with equity participation of 24.75 percent for the main parties and one percent in the Lithuanian company.

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