Former State Power Co CEO to Chair South Stream Bulgaria

The CEO of Bulgaria's National Electric Company (NEK) Vladimir Inkov will be appointed as director of South Stream Bulgaria.

Earlier Friday it was reported that Inkov has been released from his duties as NEK CEO for unspecified reasons.

"In the process if my work with Mr. Inkov I saw that he is a very professional person. That is why I will be appointing him in charge of this exceptionally important project," Bulgarian Economy and Energy Minister Dragomir Stoynev told the BGNES agency.

Stoynev however did not comment who is going to be appointed as new NEK director.

According to BGNES, a probable replacement is Yordan Zhelev, who has served as NEK's board of directors chair.

The news comes as the latest of a string of reshuffles in Bulgaria's state energy sector over the year.

The construction of Bulgarian section of the South Stream pipeline, set to transport natural gas from Russia to Central Europe, was officially started in October.

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