Bulgaria, Russia Sign South Stream Road Map

Business » ENERGY | July 17, 2010, Saturday // 10:55| Views: | Comments: 0
Bulgaria, Russia Sign South Stream Road Map: Bulgaria, Russia Sign South Stream Road Map The much debated Russian gas line “South Stream” received a green light in Bulgaria Saturday. File photo

Bulgaria and Russia have signed the so-called road map for the Russian gas line “South Stream” in Bulgaria, the Bulgarian news agency BTA reported Saturday.

The document was signed in the Euxinograd State residence near Bulgaria's Black Sea capital of Varna by the Bulgarian Energy Minister, Traicho Traikov, and his Russian counterpart, Sergey Shmatko.

Prime Minister, Boyko Borisov, had been present at the ceremony.

The so-called “road map” was approved by the Bulgarian cabinet last week and comprises the stages and deadlines of execution of the project.

The joint Bulgarian-Russian company for the project will be created in February 2011. The Bulgarian segment of South Stream will cost USD 835 M. Part of the volume – 17 B cubic meters of a total of 63 B cubic meters will go through the existing pipes on Bulgarian territory. The remaining volume will flow through new pipes in the east-west direction. The pipes will be built as part of the South Stream project and Bulgaria will have 50% ownership on them.

The negotiations on the prices of Russian gas to Bulgaria and the future joint South Stream gas pipeline project began Friday.

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Tags: Boyko Borisov, Sergey Shmatko, Russian gas, transit of Russian gas, natural gas, Traicho Traikov, South stream, South stream
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