Gazprom and Bulgaria sign a deal

Russia’s energy giant Gazprom and Bulgaria’s largest natural gas
distribution company Bulgargaz on Thursday signed a new contract on
the delivery of Russian gas to Bulgaria for the period until 2022,
RIA-Novosti reports.

The deal was signed during a working visit by Gazprom CEO Alexei
Miller to Bulgaria.

The signing of the new contract comes shortly after Russia and
Bulgaria inked a final deal on Thursday to build the Bulgarian stretch
of the South Stream gas pipeline project to bring Russian natural gas
to Europe along the Black Sea seabed, bypassing transit countries.

Following Russian President Vladimir Putin’s orders, Gazprom has
accelerated the South Stream pipeline's construction schedule, with
work now to begin before the end of 2012.

The pipeline’s commercial deliveries of natural gas to Europe are
expected to start in the first quarter of 2016, RIA-Novosti reports.