Talks on the prices of Russian gas to Bulgaria and the future joint South Stream gas pipeline project continue Saturday in the Euxinograd state residence near Bulgaria's Black Sea capital of Varna.

A Russian delegation headed by Energy Minister, Sergey Shmatko, and including representatives of Russian gas giants Gazprom and Gazpromexport are in Bulgaria to negotiate details on both issues.

On Friday, Bulgarian Economy and Energy Minister, Traicho Traikov, who leads the Bulgarian side reported on little progress in the talks, saying nevertheless they are progressing in a constructive manner. The Bulgarian delegation also includes representatives of the Ministry of Economy and Energy, and of the companies Bulgargaz, Bulgartransgaz, the Bulgarian Energy Holding.

The two parties have agreed that South Stream should be executed by creating a joint company, but have yet to decide on exact parameters of the so-called “road map” for the stages and deadlines of execution of the project.

It is yet unclear whether the Bulgarian side will achieve a coveted lowering of the prices of Russian gas for the country.

It is also unclear whether Bulgaria has made the lowering of prices a condition for signing the South Stream road map.

The commitment of the Bulgarian side was cast in doubt after negative comments on the part of PM Boyko Borisov end of June, but Bulgaria's stance was considerably more favorable during talks held in Sofia last week.

Borisov is expected to join the talks Saturday.

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