Russia again says Bulgaria failed to pay dues for Bourgas-Alexandroupolis
Bulgaria has failed to pay its obligations to Trans Balkan Pipeline, the project company engaged in the construction of the Bourgas-Alexandroupolis oil pipeline, Mikhail Barkov, vice president of one of the project participants, Russia's pipeline monopoly Transneft, said on Monday as quoted by RIA Novosti.
Bulgaria was requested to pay its EUR 6 million debt on the project by March 20, 2011.
"The Bulgarian party has not transferred the funds, they are citing some kind of procedural hurdles. We have additional funds contributed by the Russian shareholder, which will suffice until about June," Barkov said.
Last month, Moscow warned it could sue Bulgaria for compensation if the country drops the project.
"The status of the project is such that we have practically frozen all activity. We are waiting for the final official decisions from the Bulgarian government and we will proceed according to the relevant inter-governmental and corporate agreements in place, with options for withdrawal being possible," Russia's energy minister Sergei said in February.
Bulgaria and Greece have equal stakes of 24.5% in the Trans Balkan Pipeline project company, while Russian companies Transneft, Rosneft and Gazprom Neft control a combined stake of 51%. /Source: Dnevnik/