Russia is not dropping out of the Burgas-Alexandropulis project, but is minimizing expenditures, according to the official representative of Transneft Igor Demin, RIA Novosti reports.
Earlier VK reported that 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 .
Construction faces many difficulties because of Bulgarian party, which doesn't finance its part of the project.
According to Transneft, the Bulgarian debt accounts for up to 7.3 million of euro, and the Greek debt is 1.269 mln euro. That is why Russian companies minimize expenditures and cut number of personnel.
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.
