Work on South Stream Pipeline Can Start Only After Loan is Agreed with Gazprom - Econ Min

Work on South Stream Pipeline Can Start Only After Loan is Agreed with Gazprom - Econ Min

Work on the South Stream natural gas pipeline project cannot begin before Bulgaria negotiates with gazprom a loan at the mosyt favourable terms, economy minister Dragomir Stoynev said, as quoted by te Bulgarian News Agency, BTA.
"We have clearly and categorically stated that Bulgaria will not give a single lev for the project," Stoynev said. The 220 million levs loan from Gazprom would be repaid only with the project's dividend and would not be guaranteed bythe state, he addeded.
The Gazprom-spearheaded South Stream pipeline will supply natural gas from Russia to central and southeastern Europe. Its offshore part will run from Russia's Black Sea shore across the Turkish exclusive economic zone to the Bulgarian coast near Varna.

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