Project Company South Stream Bulgaria AD Is Still Operational - CEO

Energy | January 23, 2015, Friday // 08:51|  views

Photo by EPA/BGNES

South Stream Bulgaria AD, the company in charge of the implementation of the South Stream gas pipeline on Bulgarian territory, keeps functioning, according to Dimitar Gogov, CEO of the company.

In a Friday interview for the Bulgarian National Television, Gogov underscored that there was no official document indicating that the gas pipeline project had been suspended and therefore South Stream Bulgaria AD was still operational.

Govov, as cited by, pointed out that a number of procedures were underway that could not be stopped.

Asked to specify where the money was coming from, he said that the shareholders were providing the financing.

Gogov refused to comment on allegations distributed by various media outlets of the average wage at the company amounting to BGN 10 000.

South Stream Bulgaria AD was incorporated in 2010 over the implementation of the Bulgarian section of the South Stream gas pipeline.

Shareholders in the company are the Bulgarian Energy Holding (BEH) and OAO Gazprom, each with a 50% share.

The termination of the South Stream gas pipeline project was announced by Russian President Vladimir Putin in December 2014, when a new gas pipeline project from Russia to Turkey was presented.

“Technically speaking, the South Stream gas pipeline is not being built because construction works have not been launched. However, activities aimed at obtaining a final construction permit are underway,” Gogov specified.

Gogov noted that procedures for the purchase of easements had been launched in 37 municipalities and they could not be stopped.

“Although the project was cancelled on a political level, it will be in progress until the two shareholders decided that they are moving on to a new stage of the development of South Stream,” he declared.

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Tags: south stream bulgaria, South Stream gas pipeline, Dimitar Gogov, Bulgarian Energy Holding, BEH, Gazprom


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