The news source noted that oil company officials from both the countries have signed a deal for a feasibility study regarding a new network that could link the Caspian Sea to the Baltic region.
The feasibility report is expected to be ready by May 2008, in time for negotiations over the terms of a proposed refinery in Ukraine.
This deal follows the creation of the Sarmatia consortium, which includes Poland, Ukraine, Azerbaijan, Georgia and Lithuania, to build a new pipeline by 2011.
