Monday, September 21, 2009

Gas: Russia, Bulgaria to create common "South Stream" working groups

FOCUS Information Agency - Bulgaria and Russia agreed Friday to create common working groups to prepare details of the "South Stream" natural gas pipeline project, People’s Daily online edition informed.

Bulgaria Economy, Energy and Tourism Minister, Traicho Traikov,and Russia Energy Minister, Sergei Shmatko, held talks in Sofia on Friday regarding the future of the South Stream gas pipeline, Belene Nuclear Power Plant and Burgas -- Alexandroupolis oil pipeline projects.

With regard to the "South Stream," Russia and Bulgaria have agreed to establish two joint working groups, one of which will work on the terms of the shareholders' agreement of the project company for the project, while the other will work on preparing the guidelines for the tender for a feasibility study, Traikov announced.

He continued that "for the Belene nuclear power plant we also reached a common understanding that the project has so far been led in a way that was not beneficial to its success and that now we need a clear and transparent financing structure - this is what we will do from now on."

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