Article 4

Article 4

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:

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, that would ensure the unimpeded construction and operation of the Oil Pipeline, including all its facilities referred to in Article 1 of this Agreement,

establishing all tax and non-tax payments, duties and compensations payable to the Republic of Bulgaria and the Hellenic Republic, associated with the necessary quantity of oil transported via their territories to achieve the economic efficiency of the project,

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,

provision of a favourable customs treatment,

solving environmental protection issues, as well as other issues.

In estimating the amounts of tax and non-tax payments, duties and compensations, the Bulgarian and the Hellenic Parties to the Transit Agreement shall take into account the feasibility study results, as well as bear in mind that the terms of the oil transit through the Oil Pipeline must be competitive as compared with other oil transit routes in the region.