Responsibility for the project is expected to be transferred to BEH next week, local media has reported.

BEH, DEPA S.A, Greece and Edison International Holdings signed a Memorandum of Understanding in July 2009 to construct the pipeline. The companies formed a joint venture company called the Trans-Balkan Pipeline BV, which will complete the project.

When completed, the pipeline will have a capacity of 35 MMt/a of oil, with a potential to expand to 50 MMt/a.

The project has received a €45 million ($US63 million) grant as part of the European Economy Recovery Plan.