Sat, Nov 21 2009

MACEDONIA, ALBANIA AND BULGARIA SIGN BALKAN PIPELINE AGREEMENT

Thu, Feb 01 2007 09:06 CET 518 Views
MACEDONIA, ALBANIA AND BULGARIA SIGN BALKAN PIPELINE AGREEMENT

Regional Development Minister Assen Gagauzov, Macedonian economy minister Vera Rafajlovska and Albanian economy minister Genc Ruli signed on January 31 an agreement for the construction of a Balkan oil pipeline.

Gagauzov said that the pipeline construction would aid regional development and the development of European transport corridor VIII.

The pipeline from the Bulgarian coastal city of Bourgas to Albania's Vlora was also going to boost productivity and activity in the two cities, Gagauzov said as quoted by Focus news agency.

Gagauzov said that the project was going to increase the importance of the region for European energy policies.

The region through which the pipeline would pass would have guaranteed peace, stability and economic development, said Gagauzov.

Rafajlovska said all parties involved wished the fast conclusion of the project. Ruli said that Albania has always supported common energy projects.

The length of the pipeline is 912km. The annual transit of crude petroleum is expected to reach 35 million tons. Investment in the project totals $1.2 billion.

Write comment

Name:Comment:

Generate new code
Send your comment

More in this category

Bulgarian MPs resurrect proposal to raise spirits excise

Strong public opposition to price hikes prompted Prime Minister Boiko Borissov to axe the Finance Ministry proposal to increase the excise duty on spirits, but MPs have put it back on the agenda.

Back to the future

Bulgaria’s Cabinet seeks to reverse recent changes in the telecommunications sector

At a crossroads, again

Kremikovtzi’s prospects for a recovery plan appear increasingly distant

Cash or card?

Bulgarians are getting the hang of debit and credit cards, MasterCard says

Bulgarian telecom Spectrum Net acquires local peer Orbitel

The two telecoms, both set up to challenge former fixed-line state monopoly BTC, will merge operations and expect to report 20 million euro in revenue and a gross profit of five million euro in 2010.

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.