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GAZPROM

July 8, 2013

Gazprom and Bulgaria show interest in building South Stream as soon as possible

Led by Alexey Miller, Chairman of the Gazprom Management Committee, the Company’s delegation paid a visit today to the Republic of Bulgaria.

Working meetings of Alexey Miller with Plamen Oresharski, Bulgarian Prime Minister and Dragomir Stoynev, Bulgarian Economy, Energy and Tourism Minister took place as part of the visit.

The parties addressed the Russian-Bulgarian cooperation in the gas sector paying special attention to the South Stream project execution. The parties shared the opinion that the project execution in Bulgaria would boost the economic growth of the Republic. In particular, building of the new gas transmission infrastructure in Bulgaria will engage nearly 2,500 highly-skilled specialists and attract around EUR 3.5 billion of direct investments.

It was highlighted at the meeting that the parties were closely cooperating while designing the pipeline facilities and performing the EIA. The meeting participants expressed mutual interest in completing the project as soon as possible.

As part of the visit, Alexey Miller saw Sofia’s University of Architecture, Civil Engineering and Geodesy – the only Bulgarian higher education establishment that trains designers, builders and operators of the gas transmission infrastructure.

The University Principal Krasimir Petrov granted a certificate of merit and the Doctor h.c. title to Alexey Miller for a great contribution to the Russian-Bulgarian cooperation development in the energy sector.

Background

In 2012 Gazprom supplied Bulgaria with 2.5 billion cubic meters of gas.

With a view to diversify natural gas export routes, Gazprom is implementing the project for the construction of a gas pipeline running under the Black Sea to the countries of Southern and Central Europe – the South Stream project.

Intergovernmental agreements were signed with Bulgaria, Serbia, Hungary, Greece, Slovenia, Croatia and Austria in order to implement the onshore gas pipeline section.

In July 2010 Russia and Bulgaria inked the Roadmap to perform the feasibility study for the Bulgarian section of the South Stream project. In pursuance of the Roadmap, on October 25, 2010 Gazprom and Bulgarian Energy Holding signed the Agreement on the feasibility study for the Bulgarian section of the South Stream project.

On November 13, 2010 Gazprom and Bulgarian Energy Holding signed the Shareholders Agreement and the Articles of Association for the South Stream Bulgaria joint project company established on a par for the South Stream project implementation in Bulgaria. The joint project company was incorporated in December 2010.

On December 2, 2011 the South Stream gas pipeline was announced the national significance facility in Bulgaria according to the Council of Ministers Resolution No.876 of December 02, 2011.

On August 27, 2012 Gazprom and Bulgarian Energy Holding signed a protocol on the South Stream project implementation in the Republic of Bulgaria. The document defines the point of the gas pipeline entry into the Bulgarian gas transmission system, the gas pipeline parameters and further steps in the project implementation.

On November 15, 2012 Gazprom and Bulgarian Energy Holding adopted the Final Investment Decision on the South Stream gas pipeline construction in the Republic of Bulgaria.

On November 15, 2012 Gazprom and Bulgargaz signed a new long-term contract for Russian natural gas supply to Bulgaria. The document envisages annual gas supplies through 2022 in the amount of up to 2.9 billion cubic meters via the traditional gas transmission corridor, and once the South Stream gas pipeline is commissioned – via this new gas supply route.

Bulgargaz is a wholly-owned subsidiary of Bulgarian Energy Holding.

 

 

 

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