Russian participants of the project Trans-Balkan Pipeline B. V. Transneft, Rosneft and Gasprom neft declared the end of financing for the Burgas-Alexandrupolis project .
Earlier, the head of Transneft, Nikolai Tokarev, stated that the project wasn't frozen, however, the construction wasn't implemented, as Bulgaria didn't pay its share of money in the project.
The authorities of Bulgaria, in the territory of which the pipeline will be built, still haven't coordinated the project, and it is not known when they will do this. Moreover, the oil firms didn't give guarantees on raw material flows.
Russia, Bulgaria and Greece signed a contract on construction of 300 km pipeline in 2007. To implement the project the parties established Trans-Balkan Pipeline B. V. company on February 6, 2008. 51% of share is owned by Russia, other 49% - by Greece and Bulgaria. However, since 2009 Bulgaria stated that it secedes from the project for many times.
Russian companies secede from Burgas-Alexandrupolis project
2850 views
