Bulgaria, Russia Still in Discord on Belene Nuclear Project Price

Business » ENERGY | May 26, 2011, Thursday // 10:56| Views: | Comments: 0
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Bulgaria, Russia Still in Discord on Nuclear Project Price: Bulgaria, Russia Still in Discord on Belene Nuclear Project Price Bulgaria's Economy and Energy Minister, Traicho Traikov (l) is pictured in Brussels meeting with Russian Energy Minister Sergey Schmatko, (center-left). Photo by BNR

Bulgaria and Russia are not getting closer in reaching an agreement on the price of the project to build a second Nuclear Power Plant, NPP, in the Danube town of Belene.

The announcement was made by Bulgaria's Economy and Energy Minister, Traicho Traikov, after a meeting in Brussels with his Russian counterpart, Sergey Schmatko, with the CEO of Russian energy giant Gazprom, Alexei Miller, and his Deputy, Alexander Medvedev.

According to Traikov, the Russian side is asking for a deadline to reach such agreement, saying this is a good approach, but the possibility to not have accord is still standing.

The bottom line is the inflation index on the price of EUR 4 B, with Russia proposing an index of 6.3, which Bulgaria deems too high.

The deadline is also tied with the time technical experts need to reach conclusion for compliance with European safety and stability requirements where all EU NPP will undergo the so-called stress test by the end of 2011.

Schmatko, cited by the Bulgarian National Radio, BNR, says he has no doubt Belene will successfully undergo the test, which will eliminate all further doubts in the technical soundness of the project, adding negotiations will enter final stage in 2 to 3 months.

Traikov confirms all final commitments for Belene will be made after the test.

Traikov was in Brussels for the presentation of another Russian energy project before EU institutions – the gas pipeline South Stream, where Russian representatives announced they plan to have the first gas volumes running in 2015 while by 2018 the line will be functioning at full capacity.

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Tags: Economy and Energy Minister, Traicho, Traikov, Brussels, Russia, Bulgaria, Sergey, Schmatko, Alexei Miller, Gazprom, NPP, Belene, Alexander Medvedev, price, inflation index, stress-test, South stream
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