Bulgaria negotiates with ExxonMobil over area disputed with Romania for possible hydrocarbon deposits - diplomatic sources

Miercuri, 21 martie 2012, 19:51 English | Regional Europe

A litigation between Romania and Bulgaria over a Black Sea area, announced by Romania Foreign minister Cristian Diaconescu on Tuesday evening, relates to an area of about 400 square kilometers. What is the stake of bringing the issue back to light, as diplomatic negotiations about it started as early as 1994? Bulgaria is negotiating with ExxonMobil to leave the area for ExxonMobil attempts to discover hydrocarbon deposits, diplomatic sources have told HotNews.ro.

Additionally, the area is on the route of the future South Stream pipeline.

The sources claim Romania would bring the litigation to the Hague court unless a deal is reached in the next round of negotiations.

South Stream is an Russian initiative competing with the Nabucco pipeline project supported by the EU and the US. South Stream would bring Russian gas to Central and Eastern Europe through Bulgaria, while Nabucco would deliver gas from Azerbaijan through Romania.