Sun, Nov 08 2009

Putin to discus South Stream construction during visit to Bulgaria

Mon, Jan 14 2008 15:32 CET byElitsa Savova 2211 Views 1 Comment

Russian president Vladimir Putin is expected to sign the agreement for South Stream gas pipeline during his visit to Bulgaria on January 17 and 18 2008.

The South Stream gas pipeline, to be built by gas giants Gazprom of Russia and ENI of Italy, will deliver Russian gas to Austria, through its northern arm, and to Italy, through its southern.

South Stream pipeline will be 900 km long and its annual capacity is expected to be at least 30 billion cu m of gas. The project will cost between 10 and 12 billion euro.

Russian gas supplier Gazprom and Italian oil and gas corporation ENI had signed an agreement on the construction, Pari daily said.

In early November 2007, Bulgarian Economy and Energy Minister Petar Dimitrov and his Russian counterpart Viktor Khristenko signed in Moscow a joint application for the construction of the new pipeline.

If Bulgaria were to take part in the project, it could possibly pocket between $250 and 400 million (167.9 to 268.7 million euro) per year in transit fees. Additionally, the country could receive stock share and part of the gas transported, but this was a matter of further negotiations between the partners, Pari said.

Bulgaria's benefits from the project were disputable, Pari said, quoting legal experts who said that under local legislation, all gas pipelines on Bulgarian territory were public state property, suggesting that state-owned Bulgargaz would have to invest a significant amount of money in the construction of the pipeline.

Comments

Anonymous Extagen Sat, Mar 14 2009 00:40 CET
Inappropriate comment?

Great Blog!

Write comment

Name:Comment:

Generate new code
Send your comment

More in this category

Bulgaria unemployment rate reaches 8.23% in October

Seven thousand people lost their jobs in October, labour minister says

EasyJet offers 30% promotional discount on all destinations

Once the promotional tickets are purchased during the discount window, they will be valid for the period January 4–March 30 2010

Long awaited repairs

Flannagan’s will be replaced by a French brasserie as part of a 10 million euro Radisson renovation

Mobile operator Globul reports 8.1% revenue drop in Q3

Globul has accumulated a profit of 139.1 million euro for the period January – September 2009, or a 0.3 per cent drop as opposed on last year’s results

Plotting the course

After 100 days in office, Finance Minister Simeon Dyankov pinpoints 10 key issues for Cabinet in ‘the next 100 days’

© 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.