Bulgaria, Russia To Set up JV for South Stream Gas Pipeline Project in Early 2011

Bulgaria, Russia To Set up JV for South Stream Gas Pipeline Project in Early 2011

Bulgaria's Energy Minister Traycho Traykov said on Friday that Sofia and Moscow will set up in early 2011 a joint company for the construction of the South Stream gas pipeline, Sofia-based media reported.

The two sides plan to establish the joint company somewhere in February 2011, state-run news agency BTA quoted Traykov as saying in a seaside resort near Varna, on the Bulgarian Black Sea coast, where he is holding negotiations with representaives of Russian gas major Gazprom.

According to Traykov, the starting point of the future pipeline on the Bulgarian territory is likely to be located near Varna.


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