Gazprom Estimates South Stream Bulgarian Section Cost at 3.1 Bln Euro
Thursday, 01 January 1970
Russian natural gas giant Gazprom estimates that the Bulgarian section of the South Stream gas pipeline will cost 3.1 billion euro ($4.0 billion), Gazprom’s CEO Alexey Miller said after an official meeting in Sofia.
Bulgaria will start receiving gas through the South Stream pipeline in December 2015, Miller said, as quoted in a government press release.
Bulgaria will not get transit fees in the first 15 years of the operation of the pipeline in exchange for a 50% interest in the section.
The government in Sofia will take steps to speed up the launch of construction works to offset the delay of the project, the energy minister Dragomir Stoynev said.
The construction of the Bulgarian section will involve primarily local companies, Miller said.
The Bulgarian section will be approximately 540 kilometres long with three compressor stations.