Article 1

Article 1

The purpose of this Agreement shall be to define the modalities of cooperation between the Parties in the construction and operation of the "Burgas-Alexandroupolis" Oil Pipeline, with initial throughput of 35 million tons of oil per year and the potential expansion to up to 50 million tons of oil per year (hereinafter referred to as the "Oil Pipeline"), which consists of:

oil loading terminal in the city of Burgas (Republic of Bulgaria),

oil loading terminal in the city of Alexandroupolis (Hellenic Republic),

trunk oil pipeline connecting the two aforementioned oil loading terminals with the oil pumping stations, oil storage tanks for petrol and all other necessary infrastructure.

All the mentioned facilities and the land on which they are located constitute integral parts of one and indivisible system of transportation.

The Parties shall undertake every effort to ensure the uninterrupted transportation of oil through the Oil Pipeline, making full use of its technical capacity.