Major Gas Connection Across the Black Sea One Step Closer to Reality

GUEU-White Stream Pipeline Company Limited (GUEU), a UK company promoting the implementation of the major gas connection across the Black Sea from Georgia to Ukraine and Romania, is carrying out engineering and marketing studies which clearly indicate the strategic importance and commercial viability of the Project. Currently preferred option is a state-of-the-art ultra-deep pipeline across the Black Sea with a diameter of 26 inches to be laid in approximately 2,000 metres water depth.

The pipeline will make it possible to deliver more gas, initially from Azerbaijan and later potentially from other abundant Caspian Sea resources via Georgia directly to Ukraine, Romania and on to markets in Eastern and Central Europe. The White Stream project, a continuation of the East-West Energy Corridor from Azerbaijan, will provide strong synergy and mutually reinforcing effect with the Nabucco project by boosting upstream investment in the Caspian region. Branching from the SCP pipeline in Western Georgia, White Stream will also secure a complementary transportation route for diversified access to consumer markets.

The White Stream Pipeline will significantly contribute to encourage investment in gas exploration and production in the Caspian region, and will provide additional security of supply to European gas consumers. The availability of more than one gas transportation option from the Caspian to European gas markets will mitigate transportation risks, an important consideration for upstream investors.

GUEU-White Stream Pipeline Company Limited continues to gain increasing international support from the interested countries and from the European Union for this prestigious project.

The Ukraine Prime Minister Yulia Tymoshenko strongly supported the White Stream Pipeline at a recently held joint press conference with European Commissioner for External Relations and European Neighbourhood Policy, Benita Ferrero-Waldner in Brussels, "We suggest [to] the Commission joint implementation of White Stream project via the territory of Ukraine to Europe" Tymoshenko said "We would like the European Union and Ukraine to be partners in implementation of the project."

The EU Coordinator for the Caspian Sea - Middle East - European Union gas route, Mr. Jozias Van Aartsen, is now also in charge of coordinating the White Stream development which the GUEU project team welcomed.

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