The Russian “Transneft” is negotiating Thursday with Bulgaria the Burgas-Alexandroupolis oil line project, according to the Russian news agency RIA Novosti, cited by the Bulgarian Dnevnik.

The Bulgarian Finance Ministry, which is in charge of the project, had told Dnevnik that they have not sent their official representative to the meeting while the company “Trans-Balkan Pipeline” – builder of the line, confirms there is a Bulgarian-Russian summit.

Dnevnik’s own, undisclosed source, further says meeting is not only on operational, but on government level as well.

RIA Novosti reminds that in mid-June, the CEO of “Transneft,” Nikolay Tokarev, had told reporters the Bulgarian Finance Minister is to visit the company to explain the Bulgarian take on the future of the project, but this information is not yet officially confirmed.

Currently, the project is awaiting the environmental assessment and the position of the Bulgarian cabinet is that before this assessment is ready funds would not be transferred for the oil line construction. Russian Deputy Prime Minister, Viktor Zubkov, who visited Sofia a week ago, also stated the project will be halted if it is proven it poses dangers to the environment.

In mid-June, Plamen Rusev, Director of the Bulgarian branch of "Trans-Balkan Pipeline” said in an interview for the Bulgarian National Radio, BNR, that July 15 is the tentative date when the management of the Russian “Transneft” will meet with representatives of the Bulgarian government in Moscow to discuss the future of the project.

The agreement to build the oil line was signed by Russia, Greece and Bulgaria in March, 2007. The project includes plans to transport oil to terminals in the Mediterranean bypassing the congested Bosphorus Strait in Turkey.

The line will be 285 km-long with a capacity of 35 to 50 million tons of crude oil per year. The total investment cost is estimated at EUR 1.5 B.

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