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South Stream Is Economic Engine for Bulgaria – Russian Ambassador

Business » ENERGY | December 31, 2013, Tuesday // 17:57| Views: 1340 | Comments: 5
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Bulgaria: South Stream Is Economic Engine for Bulgaria – Russian Ambassador Russian Ambassador to Bulgaria Yuri Isakov, photo by BGNES

Russia's direct capital investments in Bulgaria for the past ten years exceeded USD 2 B, according to Russian Ambassador to Bulgaria Yuri Isakov.

In an interview for Moscow-based daily Rossiyskaya Gazeta, he noted that a number of Russian companies were interested in developing investment cooperation with Bulgaria in the spheres of transport, banking and insurance, logistics, etc.

Isakov cited energy as one of the priority spheres of bilateral cooperation.

He referred to the South Stream gas pipeline project as an engine of the Bulgarian economy, adding that it would benefit all European countries interested in ensuring long-term supply stability.

The Russian diplomat explained that the South Stream gas pipeline project would result in the upgrade and expansion of the gas transmission infrastructure in Central and Southern Russia.

He claimed that Bulgaria would secure estimated revenues of EUR 2.5 B by 2040 through the gas pipeline project, adding that both international and local experts agreed that it would assist the implementation of the revenue side of the state budget.

Isakov also drew attention to the fact that the implementation of the South Stream gas pipeline project would create over 600 jobs in Bulgaria, provide Bulgarian construction companies with unique experience and  give a strong boost to the development of the depression-stricken Northwestern Region, on whose territory a substantial section of the pipe was located.

He also said that the project would fetch additional investments in transport infrastructure and increase the workload of Bulgaria's largest Black Sea port, Port Varna, and the Bulgarian State Railways (BDZ) company.

He described South Stream as "an engine for the Bulgarian economy and its sustainable development."

Isakov was not asked to comment on the calls of the European Commission to renegotiate all bilateral intergovernmental agreements on the South Stream gas pipeline project in order to make them compatible with EU law.

The Russian diplomat suggested that Bulgaria had great opportunities to develop alternative forms of tourism such as pilgrimage tourism, balneological tourism, wine tourism and eco-tourism.

He also informed that the 135th anniversary of diplomatic relations between Bulgaria and Russia would be celebrated in 2014, as well as the 135th anniversary of the first Bulgarian Constitution, reminding that it had been drafted "with the active participation of prominent Russian legal experts."

Isakov went on to mention other upcoming anniversaries, such as the 100th anniversary of the Russian Church in Sofia, officially known as the Church of St Nicholas the Miracle-Maker, and the and the 90th anniversary of the sanctification  of the St. Alexander Nevski Cathedral.

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» To the forumComments (5)
Tania Oz - 2 Jan 2014 // 17:56:17

Thankyou sa-sha: Happy New Year to You and your Family also! I mnogo zdravie.

sa-sha - 2 Jan 2014 // 16:15:49

:-).....Happy New Year, Tania Oz, happiness and faith to You, to Your family, to Bulgaria!

Tania Oz - 2 Jan 2014 // 13:42:27

Lol, sa-sha dear, you are being a tad over-sensitive perhaps? I am, like you, entitled to an opinion. Everyone is entitled to their own opinion. That's the point of a forum. We all see through different eyes.

sa-sha - 2 Jan 2014 // 11:48:17

;-)...Dear Novinite, let me ask You not to publish those Russians' interviews, especialy when they are given not to You, but to those damned Russian media! Otherwise You risk to receive what You have received from the previous author: the torrent of delirium. Obviously the nervous shock (from the published by You interview) was so tremendous, that the above "author" fell out of a tree and pinched the own tail. Be merciful, Novinite ;-)

Tania Oz - 2 Jan 2014 // 05:27:47

Oh blah blah blah. Why is he spruiking Russian investment in Bulgaria specifically and how to go about our business? Mind your own business Mr. Russian Ambassador. You are serving Russian interests, not ours. I say let Bulgaria decide what is good for us and how to run our own country, not anyone else. Does Bulgaria or anyone else for that matter suggest to you, how to run Russian business and internal affairs? Do we really need any more Russian Oligarchs ruling the roost in BG? Securing revenues of 2.5 Billion Euros by 2040 from South Stream? Is that per annum or collectively, until 2040 or after 2040, or just pure speculation for a feel good story. These are rather vague projections and how do we know it is a good deal really, looking so far into the future. As far as I heard, Bulgaria won't even see any revenue for I think it was 15 years from now anyway. I don't think that anyone can predict accurately or exactly what the bottom line will be in 26 years from now in a world economy. Judging by the look of him, he and many others in BG won't be around in 26 years to see this huge windfall for the Bulgarian economy anyway. Who asked him not to comment on the EU calls for the agreements to be renegotiated and why? Rather tight-lipped on that point. But of course he has no problem informing and reminding us all of the close ties we share with Russia, and that the Bulgarian constitution was drafted with "prominent Russian legal experts", or the two Russian Churches in Sofia and the anniversaries etc etc. "The Russian diplomat suggested that Bulgaria had great opportunities to develop alternative forms of tourism such as pilgrimage tourism, balneological tourism, wine tourism and eco-tourism" - again, mind your own business.

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