Bulgarian FM Does Not Rule Out South Stream Re-Negotiation

Bulgaria is ready to renegotiate terms in the South Stream gas pipeline, but this should not be necessary, believes the country’s Foreign Minister.

“If we turn to renegotiating the agreements, this will slow down the construction process significantly, but let’s wait for the analysis”, said Kristian Vigenin for the Bulgarian National Television.

Earlier this week, the European Commission warned that countries may be obliged to renegotiate their agreements with Russia over the Gazprom-led South Stream project, in order to comply them with EU law.

Vigenin says Bulgaria will carefully examine the European Commission’s remarks and take the adequate measures.

Bulgaria officially began the construction of the South Stream pipeline on its territory at the end of October.

The South Stream pipeline is intended to transport up to 63 billion cubic meters of natural gas to central and southern Europe, diversifying Russian gas routes away from transit countries such as Ukraine.

The pipes will go from Russia to Bulgaria via the Black Sea. In Bulgaria it will split in two – with the northern leg going through Serbia, Croatia, Hungary, and Slovenia to Austria and Northern Italy, and the southern leg going through Greece to Southern Italy.