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Bulgaria pays off its oil pipe-line debt to Russia
8.02.2012 17:53
Bulgaria pays off its oil pipe-line debt to Russia
BurgasAlexandroupoli pipeline

Bulgaria paid off a 4.7 million euro debt to Russia for its withdrawal from the construction project of the Burgas-Alexandroupolis oil pipeline, Transneft spokesman Igor Demin told Itar-Tass on Wednesday.

At the same time he noted that Bulgaria paid its principal debt, while it will pay interests later as the country’s budget envisages no funds for this item of expenditure.

According to earlier reports, Bulgaria should reimburse costs worth of 65 million euros for its withdrawal from the project.

The Burgas–Alexandroupoli pipeline is an oil pipeline project for transportation of Russian and Caspian oil from the Bulgarian Black Sea port of Burgas to the Greek Aegean port of Alexandroupoli. It should become as an alternative route for Russian oil, bypassing the Bosporus and the Dardanelles. However, in December 2011 it was terminated by the Bulgarian government due to environmental and supply concerns.


Author: Irina Fomina

Tags: BurgasAlexandroupoli pipeline     

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