AMBO agreement is reached between Macedonia and Albania

OHRID, Oct. 30 – Macedonia and Albania signed on Monday in the city of Ohrid a bilateral protocol that specifies the sites of the AMBO oil pipeline route. Its exit point in Macedonia will be near the village of Lakaica, while the entry point in Albania will be near the village of Stebleve, municipality of Elbasan. The agreement was signed by Nikola Cerepnalkovski, advisor at Macedonian Ministry of Economy, and Gjergj Bojaxhi, vice minister of economy, trade and energy. The final agreement on AMBO project is expected to be signed by the end of 2006. It will specify the rights and the obligations of the three signatory countries – Macedonia, Bulgaria and Albania, including the New York-based AMBO Pipeline Corporation, according to Cerepnalkovski. The AMBO pipeline project entails a proposed 917-kilometer, 750.000-barrel-per-day pipeline connecting Bulgarian Black Sea port of Burgas with the Albanian Adriatic port of Vlora.