South Stream Bulgaria Keeps Working on Gas Pipeline Project - CEO
Thursday, 11 December 2014
South Stream Bulgaria keeps working on the gas pipeline project, according to Dimitar Gogov, CEO of the company.
In a Wednesday interview for the Bulgarian National Television (BNT), Gogov announced that there had been no official statement on the part of the shareholders in South Stream that the project had been terminated.
He underscored that the statement of Russian President Vladimir Putin after his meeting with Turkey's President Recep Tayyip Erdogan in Ankara only hinted at a redirection of the gas quantities needed by Turkey and Greece.
Gogov argued that the conceptual design for the South Stream gas pipeline had been completed, with a number of sites earmarked for the project and easements obtained for over 17 000 properties.
“A contract has been signed for awarding construction works to a consortium of companies which can accomplish it,” Gogov added.
The CEO of South Stream Bulgaria specified that some 90 million euros had been spent since the establishment of the project company.
He claimed that the financial model which had been prepared could be changed, adding that the annual revenues had been calculated at around 450 million euros a year.