Czech state firm buys stake in TAL pipeline

20-11-2012

The Czech state-owned crude oil-transporting company Mero has acquired a five-percent stake in the Transalpine Pipeline, or TAL, from Shell Deutschland, Czech Industry and Trade Minister Martin Kuba said on Tuesday without giving any financial details. The transaction is seen as a move to increase the Czech Republic’s energy security, as it will lower its dependency on oil shipped from Russia via the Druzhba pipeline. The TAL pipeline transports crude oil from Italy to Austria and Germany where it is linked to a network that supplies Czech oil refineries in Kralupy and Litvínov.