The signing of the trilateral memorandum on the construction and exploitation the trans-Balkan oil pipeline Burgas –Alexandroupolis might be postponed, Bulgaria’s Deputy Regional Development Minister Hassan Hassan said. The memorandum was about to be signed on April 6th. Since negotiations between Bulgaria, Greece and Russia continue, the signing will most probably take place either on April 15 or April 16. Bulgaria demands to have equal share in the construction of the pipeline and in order to ensure that will request from the other parties the figure 33 percent to be listed in the final document, Hassan explained. The cost of Burgas-Alexandroupolis project is estimated at some EUR 680-700 M. Refunds from investments in the project are expected in seven or ten years. The project has been in deadlock for nearly seven years mainly because Bulgaria and Greece have so far failed to agree over their stakes in the future consortium to manage the 256-km (159-mile) underground pipeline carrying Russian oil.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!