Bulgaria Paying For Backing Out Of Pipeline Project

September 2010 Vol. 237 No. 9

Bulgaria will repay its 4.88 million euro debt for the Burgas-Alexandroupolis oil pipeline construction.

Russia, Greece and Bulgaria signed an agreement in 2007 to build a 300-km pipeline from Burgas on the Bulgarian Black Sea coast to Alexandroupolis on the Greek Aegean Sea coast. The capacity of the pipeline is 35 million tons which may be expanded to 50 million tons.

In June, Bulgaria decided it would not participate in the project, ostensibly for environmental reasons, though it would not rule out rejoining the project in the future.

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