The common project of Russia, Bulgaria and Greece aimed at building an oil pipeline from Burgas to Alexandropolis might be modified in the view of Bulgaria lacking its share money - 739 million Euros. Bulgaria might be replaced by Romania, according to the Bulgarian Energy minister, but Romanian authorities have not had talks with Russia in this respect.
“Bulgaria is to be replaced by Romania”, Rumen Ovcearov, the Bulgarian Economy and Energy minister stated for Sofia News Agency. This might be a way to push Bulgaria to take greater efforts in providing the necessary money for the pipeline’s construction, by Russia’s invoking the involvement of a competitor.
Besides the 739 million Euros aimed at the pipeline’s construction, Bulgaria must still provide the most consistent share for a terminal in Burgas, valued at 100 million Euros.
The pipeline will transport oil to the Mediterranean sea at a low price, thus contributing to an improved domination of Moscow on the European energy market and a stronger role for Greece and Bulgaria as an energy hub in the Balkans.
The pipeline will link the ports of Burgas (Bulgaria) and Alexandropolis (Greece) and is valued at some 700 million euro. The project has been discussed for more than 14 years but remained unfinished so far because of various clashes of opinions between the three parties.
