Bulgaria 'Seeking South Stream Project Revival'

Business » ENERGY | February 16, 2017, Thursday // 13:58
Bulgaria: Bulgaria 'Seeking South Stream Project Revival' File photo, EPA/BGNES

Bulgaria is seeking to take in part of the Ukrainian gas transit, the head of an influential private-sector engineering organization has said.

With Russia considering a move to suspend gas transit via Ukraine, southern Europe and particularly Bulgaria would like to renew the South Stream gas pipeline project, Andrey Listovski, who heads the Energy Development Fund, is quoted by UA Regnum as saying.

Listovski's Energy Development Fund is a non-governmental organization "involved in the designed of Russian energy sector development".

In his comments for Regnum, he has recalled the words of Russian President Vladimir Putin, who earlier in February said South Stream could be renewed if Bulgaria could give rock-solid guarantees the project will not fall through.

"Everybody is theoretically ready to renew activities on South Stream. But Russia... is ready to renew [it] in case of clear guarantees that the money will not be wasted."

This position is very rational, advisable economically and well-founded from the political point of view, Listovski has said.

His remarks follow a statement from the Russian commercial attaché to Bulgaria, who recently said it was likely for the project to be revived.

Russia ditched South Stream in December 2014, citing EU opposition and blaming Bulgaria as the latter did not issue construction permits for its exclusive economic zone.

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Tags: South stream, Energy Development Fund, gas

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