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From left to right, Gazprom CEO, Alexei Miller, Bulgarian Prime Minister, Plamen Oresharski, and Bulgarian Economy and Energy Minister, Dragomir Stoynev, photo M3 Communications Group
As expected, the Russian-sponsored South Stream gas pipeline project has topped the agenda of talks between the CEO of Russian energy giant Gazprom, Alexei Miller, and Bulgaria's Prime Minister Plamen Oresharski.
The two spoke at a joint briefing after the meeting Thursday afternoon.
"Today we start the construction of the Bulgarian section of the pipeline South Stream - this is a glorious event," said Miller
He stressed South Stream was the most important part of energy security of Europe as supplies will go directly to Bulgaria, respectively to the European Union. The direct delivery would also reduce the price of gas for Bulgaria, according to him.
Miller confirmed that the first delivery of natural gas in Bulgaria via South Stream will happen in December 2015.
"Today we can give the symbolic start of a very important for Russia, Bulgaria and Europe project - South Stream. This is the largest project undertaken in our territory. The Bulgarian government will assist in the realization of this project," said Oresharski.
He explained the basic parameters of the project were further defined at the meeting.
"The Bulgarian side will not invest even a penny and the parameters are set so that they are profitable for Bulgaria," added the PM.
Opponents of the project, however, insist it is not true the pipeline will be of no cost to Bulgaria because under the clauses of the contract, the country will not receive any money from transit fees for 15 years and all revenues generated by the gas pipeline during the period would go to Gazprom.
The president of the Confederation of Bulgarian Trade Unions, Plamen Dimitrov, has warned that inflation in Bulgaria is likely to exceed earlier projections, even if fuel prices begin to decline
Bulgaria’s fuel market has recorded a sharp upward shift since the outbreak of the war in Iran, with diesel and petrol prices rising significantly across the country
The second exploration drilling in the Krum-1 area of the Khan Asparuh block in Bulgaria’s Black Sea has also failed to identify commercially significant natural gas deposits, according to OMV Petrom
The Ombudswoman institution has voiced strong opposition to the proposed increase in heating prices in Sofia, which is expected to approach nearly 30 percent
The Energy and Water Regulatory Commission (EWRC) in Bulgaria has set the price of natural gas for April 2026 at 34.27 euros per megawatt-hour, excluding access, transmission, excise duties and VAT
Fuel prices in Bulgaria have recorded a sharp upward movement over the past month, with diesel showing the most significant increase, according to data from the Fuelo platform
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