Russia is still interested in realizing the Trans-Balkan oil pipeline Burgas-Alexandroupoli. It is economically efficient, but not a priority. Russia is ready to abandon the project and pay compensation, RIA Novosti cites the Russian Energy Minister Sergey Shmatko as saying.
The minister said that the project was frozen and a decision of the Bulgarian government is expected. He said that Russia will demand compensation. Alternative projects, including the BPS-2, are less costly and have fewer transit risks.
Shmatko said that rumours about the economic inefficiency of the project have no grounds, and that the problems started with the Bulgarian eco-lobby.
Commenting on Bulgaria’s possible payment of its 7.3 million euro debt on March 20, he said that inter-governmental and corporate deals need to be separated.
The Trans-Balkan oil pipeline Burgas-Alexandroupoli is planned to have a capacity of 35 million tons of oil annually, with a possible increase of up to 50 million tons, running from the Black Sea port of Burgas and runs to the port of Alexandroupoli on the Aegean Sea. It is a competitor to the Samsun-Ceyhan pipeline. Transneft complained that Bulgaria is not fully financing the project and has a debt of 7.3 million euros.
