Bulgarian Project Company for Oil Pipeline Burgas-Alexandroupolis Welcomes New CEO

Bulgarian Project Company for Oil Pipeline Burgas-Alexandroupolis Welcomes New CEO

The Bulgarian project company established for the Burgas-Alexandroupolis oil pipeline, which was suspended several years ago, will undergo a senior-level reshuffle as of March 31.
According to Business Register data, as cited by mediapool.bg, the current Executive Director of "Project Company Oil Pipeline Burgas-Alexandroupolis - BG" EAD, Anzhel Dimitrov, will be replaced by Alexander Gargov, member of the Board of Directors of the company.
Gargov headed the company in the period July 2010 – March 2011 and December 2011 – present.
Apart from Gargov, Ivan Ivanov also leaves the Board of Directors of the company.
The BoD welcomes two new members, Mariya Veselinova and Nikolay Lyubenov.
Veselinova will be Chairperson of the Board of Directors of "Project Company Oil Pipeline Burgas-Alexandroupolis - BG" EAD.
Bulgaria’s government announced its decision to stop the Burgas-Alexandroupolis project in end-2011.
The intergovernmental agreement with Russia and Greece was terminated by Bulgaria’s parliament in March 2013.
However, "Project Company Oil Pipeline Burgas-Alexandroupolis - BG" EAD continues to exist.
The project company has a staff of four people, including three BoD members.
The principal of "Project Company Oil Pipeline Burgas-Alexandroupolis - BG" EAD is Bulgaria’s Finance Ministry.
According to a statement of the Finance Ministry, the project company will continue to exist until the closure of the international project company Trans-Balkan Pipeline B.V., where the Bulgarian company controls a 24.5% stake.
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