Bulgaria's government has signed with Russian state-owned energy giant Gazprom the final investment decision for the construction of the South Stream gas transit pipeline.
The South Stream agreement was signed in the Bulgarian capital Sofia shortly before noon on Thursday by Bulgarian Prime Minister Boyko Borisov and Gazprom CEO Alexei Miller, in addition to another agreement for the Russian natural gas supplies for Bulgaria, which stipulates a 20% discount as of January 1, 2013.
The South Stream pipeline is intended to transport up to 63 billion cubic meters of natural gas to central and southern Europe, diversifying Russian gas routes away from transit countries such as Ukraine. Construction will start in December 2012, and not 2013 as previously planned....
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