OREANDA-NEWS. On 27 March 2008 was announced, that a joint session of the general Shareholders and the Supervisory Board for the “Transbalkanian Pipeline B.V.” (“TBP B.V.”) Burgas – Alexandroupolis pipeline construction has been held in Athens. The issues of the organizational management for the development period have been talked over and approved under the chairmanship of the Supervisory Board Chairman  V.I. Kushnarev, the First Vice-president for the Oil Transporting JSC “Transneft”.

Among other things Vladislav Emel’yanov has been elected the fifth member for the “TBP B.V.” board. Sergey Vinnichenko (President and CEO of the company), Plamen Rusev, George Aleksopulos, Joseph Kallen go to make up the board as it was previously reported.

The company organizational structure and the tax and legal issues related to the company activities and have been discussed. The directors for development have been elected in addition to the decision made at the preceding meeting of the Supervisory board in Moscow. Establishment of the “TBP B.V.” representative offices in Athens, Moscow and Sofia has been considered wise.

The shareholders and the members of the Supervisory board have approved the initial budget of the company amounting to 5,8 million Euro and the financing methods and procedures.

The issues of approach of choice of the engineering company – designer for the technical-economic assessment, and the tender process practicability have been discussed. A report on conceptual points of the financial consultant choice has been given a hearing.

Other aspects of the “TBP B.V.” activities have been given a consideration during the meeting.