FYROM gov't minister cites compromise with EL.PE over pipeline company

   

    SKOPJE (ANA) -- State-run Hellenic Petroleum (EL.PE) and the government of the Former Yugoslav Republic of Macedonia (FYROM) have reportedly reached an agreement over a new management scheme for a crude oil pipeline connecting the northern Greece port city of Thessaloniki with the land-locked country's capital, Skopje.

   

    FYROM Economy Minister Stevco Jakimovski told local reporters over the weekend that he reached an agreement with EL.PE officials in Thessaloniki on Friday to begin operation by Nov. 1 of a joint company managing the pipeline. EL.PE will retain an 80-percent share of the company, with the state of FYROM controlling the other 20 percent.

   

    The pipeline was exclusively managed and exploited by EL.PE over the past two years via a company set up by the Greece-based refinery and retail outlet group.

   

    Another pending issue between EL.PE and the Skopje government involves a 1999 deal by the former to purchase the state-owned OKTA refinery in the FYROM capital, as certain provisions in the purchase contract were heatedly criticised by the government that assumed power in that country in 2002.

   

    EL.PE has requested international arbitration to resolve the issue. However, a suspension of legal action could allow both sides' experts to workout a compromise deal, press reports here estimated.

   

   

   

   

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