Bulgaria President Backs Russian-Sponsored Energy Projects

Bulgaria's President Parvanov (left) has advised the new cabinet of PM Borisov (right) not to freeze the large-scale energy projects. Photo by BGNES

Bulgarian President, Georgi Parvanov, reiterated Friday his support for Bulgaria's participation in the three large-scale Russian-sponsored energy projects.

The President advised the new government of Prime Minister Boyko Borisov to find private investors in order to finance the three projects instead of freezing them, or giving them up altogether.

Parvanov's recommendation came after the new Bulgarian Ministers have made it clear that they were going to reconsider the three projects - the South Stream gas transit pipeline, the Burgas-Alexandroupolis oil pipeline, and the Belene Nuclear Power Plant - as the Bulgaria could not afford large capital expenditures amidst the raging crisis. Such statements have already caused worries in Russia.

"The large energy projects are an investment in Bulgaria's energy security, strategically referring to the period 2015-2020. If we want to the energy center of the Balkans, as we have declared, we need to consider very carefully what we are going to do", Parvanov said in Veliko Tarnovo on Friday.

The deals for the three Russian-sponsored energy projects were signed during former Russian President Putin's visit to Bulgaria in January 2008.

 

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