Romania, Croatia, Serbia, Slovenia and Italy are due to sign an accord for the construction of a pan-European oil pipeline in Zagreb on Tuesday. The pipeline will bring Caspian and Central Asian oil to Trieste, Italy via the Romanian city port of Constanta.

The 1,856 km-long pipeline will be capable of carrying 40 million tons of oil annually in a first phase, with capacity due to grow to 90 million.

The total costs for the system to become operational are estimated at 2,62 billion USD and may grow to 3,96 billion USD according to the quantity of annual oil deliveries.