South Stream Documents Contain No Gas Transit Contract with Bulgaria

Prime Minister Boyko Borisov hoped the documents handed out by BEH and South Stream Bulgaria would help the cabinet to adopt a clear position on the gas pipeline project. Photo by BGNES

Neither a long-term gas transit contract nor a complete finance model could be found among the documents signed with Bulgaria on the South Stream project, the government says.

Its statement comes after Prime Minister Boyko Borisov was made familiar with the documents by Energy Minister Temenuzhka Petkova.

Borisov declared on Wednesday he was surprised by the fact that the cabinet did not have access to the set of documents and was ready to order that they be taken "by force" unless they were willfully provided. He voiced his hopes that the papers would help the cabinet to adopt a clear position about the benefits of the project.

Two days later the cabinet announced it had received the documents from the Bulgarian Energy Holding (BEH) and South Stream Bulgaria, the latter being a joint venture of BEH and the Russian energy giant Gazprom.

Petkova had personally demanded that all documents be handed out to the cabinet. Alongside Economy Minister Bozhidar Lukarski, she is now in charge of preparing and delivering to Borisov a "legal, economic and financial" analysis, the message also reads. This particular document has to be ready by December 9, when Sofia intendsto reveal it during the Transport, Telecommunications and Energy Council, a configuration of the Council of the EU.

The South Stream project was dropped on Monday this week, with Russian President Vladimir Putin citing Bulgaria's decision to halt it as a reason.

Putin claimed Bulgaria would suffer losses of up to EUR 400 M a year for failing to have South Stream on its soil.

 

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