The state-owned Bulgarian Energy Holding (BEH) has appointed a new chief executive officer at one of its units, the National Electricity Company, NEK.
Vladimir Inkov was relieved of his duties as CEO of NEK, BEH said in a press release on Friday. He will be replaced by Yordan Zhelev.
Prior to the change, Zhelev was chairman of NEK's board of directors.
Later in the day the state-run Bulgarian News Agency, BTA, quoted energy minister Dragomir Stoynev as saying that Inkov will be in charge of the implementation of the South Stream gas pipeline project on Bulgarian territory.
The South Stream gas pipeline, with a capacity of some 63 billion cubic metres per year, will carry gas from Russia to central and southern Europe. The onshore pipeline will connect Varna, on the Black Sea, to northern Italy, via Bulgaria, Serbia, Hungary and Slovenia. It is planned to go on stream by the end of 2015. The projected was initiated by Russia's Gazprom and Italy's Eni.