South Stream Bulgaria Receives Seven LOIs for Pipeline Construction

South Stream Bulgaria Receives Seven LOIs for Pipeline Construction

South Stream Bulgaria has received seven letters of interest (LOIs) from consortia willing to take part in the construction of the Bulgarian section of the South Stream pipeline, estimated at 3.5 billion euro ($4.73 billion), news portal Dnevnik.bg reported.
The tie-ups consist of Russian, German, Austrian and Turkish companies, Dnevnik.bg reported. Russian company Stroytransgaz is one of the possible candidates, alongside Bulgarian companies Glavbolgarstroy, Energoremont Holding, Advance Engineering, and Vodstroy 98, it added.
South Stream, initiated by Russia's Gazprom and Italy's Eni, aims to diversify gas routes within the European Union and to provide stable gas supplies 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.
South Stream is planned to go on stream by the end of 2015 with a pipeline capacity of some 63 billion cubic meters per year.

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