Russia Plans to Revive 'Frozen' Trans-Balkan Pipe

Business » ENERGY | April 7, 2012, Saturday // 11:08| Views: | Comments: 0
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Bulgaria: Russia Plans to Revive 'Frozen' Trans-Balkan Pipe The 280-km pipeline, planned to link the Black Sea port of Burgas to Alexandroupolis on the Aegean Sea, was designed to transport 35 million tons of oil a year. File photo

Russian oil company Transneft has not given up the Burgas-Alexandroupolis oil pipeline and plans to return to the project in the future.

Transeft vice-chair Mikhail Barkov stated at a forum in Moscow that his company plans to build the pipeline at a more favorable point in time.

"We will not leave the project behind. We are just freezing it, leaving the requisite amount of resources in it," said Barkov.

In December, Bulgaria, through which a large section of the pipe was to pass, gave up the project, with Minister of Finance Simeon Djankov saying that it is not profitable for his country.

This, it was feared, spelled the death of the pipeline project, set to deliver Russian oil from the Black Sea to the Aegean without shipping it through the Bosphorus.

But the Russian party has multiple times suggested that it will push the project forward jointly with Greece in one way or another, no matter Bulgaria's unwillingness.

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Tags: Burgas-Alexandroupolis, oil, Black Sea, Bosphorus, greece, Russia, Russian, Transneft, Simeon Djankov, Mikhail Barkov
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