Agreement between the Government of the Russian Federation, the Government of the Republic of Bulgaria and the Government of the Hellenic Republic relating to the cooperation in the construction and the operation of the “Burgas –Alexandroupolis” oil pipeline.

For the period of designing, construction and operation of the Oil Pipeline, the Parties shall conclude a Transit Agreement with the International Project Company, outlining the terms of cooperation between the International Project Company and the States of the Parties, including (but not limited to) the following: (a) provision by the Republic of Bulgaria and the Hellenic Republic of plots of land to the International Project Company, which would meet the objectives and the terms of the construction of the Oil Pipeline, and irrevocable granting to the International Project Company of land-use rights in respect of such plots; (b) connection to the energy production systems, as well as steady energy supply of the Oil Pipeline, ensuring free transit of oil, without any delays and obstacles, after the Oil Pipeline is put into operation; and (c) solving environmental protection issues, as well as other issues. The Parties have agreed that the International Project Company, in order to ensure the transit of oil through the Oil Pipeline, shall conclude relevant agreement(-s) (contracts) with the Joint Stock Company Transneft which shall perform, inter alia, the following functions: (a) shall enter into oil transporting services agreements (contracts) with the oil consignors (oil owners) on the transportation of oil from production areas to the port of Alexandroupolis; and (b) shall form the oil flows along the entire transit route. The Parties shall ensure the necessary conditions for a smooth construction and operation of the Oil Pipeline, issuing all the necessary permits to the International Project Company, including granting land-use rights (allotment of land).