Рўhe three planned large-scale Russian energy projects in Bulgaria are unlikely to be affected by the global economic crisis as they are driven by geopolitical motives.

The argument has been put forth Monday by Plamen Dimitrov, head of the Eurasia Sector of the Bulgarian Geopolitics Association, in an article for the Pari Daily.

Dimitrov argues that the significance of the three Russian-sponsored energy projects - the Belene Nuclear Power Plant, the South Stream gas transit pipeline, and the Burgas-Alexandroupolis oil transit pipeline - for Russia goes far beyond making profit and refers to geopolitical motives.

Hence the readiness with which Russian Prime Minister declared last week that the Russian government would provide a EUR 3,8 B loan for the construction of the Belene NPP. According to Dimitrov, all three are long-term projects that should not be affected by the fluctuations in Russian state revenue which is contingent on the global crisis effect and the world oil prices.

Dimitrov points out that with the construction of the Belene NPP, the Russians wanted to make a breakthrough at the European nuclear energy market; with the South Stream pipeline, Russia wanted to circumvent the Ukraine which after the January 2009 gas war has become a long-term Moscow strategy; and with the Burgas-Alexandroupolis oil pipeline Russia wanted both to go around the Bosphorus, and to increase the quantities of Caspian oil transported through the Russian-controlled routes thus steering more oil from the Baku-Tbilisi-Ceyhan oil pipeline.

Dimitrov argues, however, that while the geopolitical significance of the three projects might be more important to Russia than their profitability, this was not the case for Bulgaria which should pursue economic benefits first and foremost.

According to Dimitrov, it does not really matter for Bulgaria whether Belene or the other two projects are constructed with loans from Russia or from elsewhere; what matters is the expediency of the loans and the economic viability of the projects.

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