Russia, Bulgaria to make final decision on Burgas-Alexandroupolis

MOSCOW, April 7 (Itar-Tass) -- Russia and Bulgaria plan to make the
final decision on the Burgas-Alexandroupolis pipeline shortly.
The announcement was made after a meeting of the Russian-Bulgarian
inter-governmental commission on Wednesday, April 6, by its co-chairmen,
Russian Energy Minister Sergei Shmatko and Bulgarian Minister of Economy,
Energy and Tourism Traicho Traikov.
"We raised the question of completing as soon as possible all
procedures for making the final decision on the fate of this project,"
Energy Minister Sergei Shmatko said. "The Bulgarian side showed
understanding for Russia's expectations. This is recorded in the minutes."
"We did not discuss concrete time for making the decisions, but we
expect the final decision on the fate of this project shortly," the
minister added.
"We have full understanding that further relations, including
financial ones, will be regulated by inter-governmental and corporate
agreements that envision billing," Shmatko said.
"Bulgaria has always honoured its international agreements. This is a
priority we will not give up," Traikov said.
The pipeline will be constructed and owned by Trans-Balkan Pipeline
B.V. where 51 percent of shares belong to the Burgas-Alexandroupolis
Pipeline Consortium, a joint venture of Russian Transneft, Rosneft, and
Gazprom Neft. Bulgarian Burgas-Alexandroupolis Project Company-BG, a joint
venture of Bulgargaz and Transexportstroi, owns 24.5 percent of shares.
Greece consortium HELPE S.A. - THRAKI S.A., a joint venture between
Hellenic Petroleum and Thraki, which is owned by Prometheus Gas and the
Latsis Group, owns 23.5 percent, while the Government of Greece has 1
percent.