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Energy Summit to be held in Vilnius on October 10-11

Industry & energy minister Natig Aliyev said that the Summit will be held in Vilnius, Lithuania, on October 10-11 with involvement of the leaders of Azerbaijan, Georgia, Lithuania, Ukraine and Poland.

“The event is intended to continue the Krakow Summit and will cover grave issues of the five countries’ energy independence partnership, in particular crude oil supplies from Caspian to the Baltic states,” the minister said. As well as at the previous summit the issue of Kazakh president’s participation was not specified. “We voiced our approval that State Oil Company of Azerbaijan will become a founder shareholder in international pipeline company Sarmatiya LLC (Poland-Ukraine) along with Georgian Oil & Gas Corporation Ltd (GOGC) and AB Klaipedos Nafta (Lithuania). The challenge of this Company financed €2 million by European Union is to run Odessa-Brody-Plozk-Gdansk oil pipeline project. Currently the task is set much wider – oil transportation from the Caspian region. It demands availability of crude oil sources, and Azerbaijan should certainly participate in this project,” the minister stressed.

At a general session in Warsaw on July 5 the Sarmatiya LLC shareholders signed a document according to which the present and future Sarmatiya Project partners agreed to increase Company’s charter capital from 2 million zloty up to 12 million zloty ($4.5 million) in a way of creation of additional 20,000 stakes. At the same time Ukrtransnafta, Przyjazn, GOGC and SOCAR will receive by 5,940 stakes and AB Klaipedos Nafta 240 stakes. The Sarmatia’s new shareholders participants should notify of a decision to buy the stakes for 30 days after the meeting. The meeting involved reps of Ukrtransnafta and Poland’s Przedsiebiorstwo Eksploatacji Rurociagow Naftowych Przyjazn S.A., Klaipedos Nafta’s general director, and SOCAR vice president.
Odessa-Brody long-distance oil pipeline was built in 2001 for Caspian oil transportation. It was not used for several years. In late June 2004 the Ukrainian government permitted its use transportation of Russian oil in reverse mode. On July 12, 2004 Ukrtransnafta and Poland’s oil transport monopoly  Przyjazn S.A. established Sarmatia joint venture to prepare estimates, raise investments and provide construction.

By late September 2007 involved companies’ representatives intended to make jointly a business plan on construction of Odessa-Brody pipeline segment to run to Plozk. (