Arab Today, arab today bulgaria pulls out of russiagreece oil pipeline
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

Bulgaria pulls out of Russia-Greece oil pipeline

Arab Today, arab today

Arab Today, arab today Bulgaria pulls out of Russia-Greece oil pipeline

London - AFP

Bulgaria said on Wednesday it was pulling out of a long-stalled pipeline project meant to bring Russian oil to Greece through its territory, but Athens said it remained committed. "Bulgaria suggests cancelling the project by mutual agreement. Otherwise, it will back out unilaterally in 12 months," Finance Minister Simeon Djankov said. The government said the project, originally estimated in 2007 to cost $900 million (710 million euros at the time), was no longer seen as being economically viable. Despite pressure from its partners, Bulgaria has also repeatedly expressed reservations about the environmental impact of the 280-kilometre (175-mile) pipeline because it would pass through nature reserves. It would have allowed Russia to transport oil to Europe while bypassing the busy Bosphorus strait, running overland from the Bulgarian Black Sea port of Burgas to Alexandroupolis on the Aegean Sea in Greece. Djankov said Sofia would pay the 12 million leva (6.1 million euros, $8.2 million) it owes to the company founded to construct the pipeline, 51-percent owned by Russia and 24.5 percent each by Bulgaria and Greece. Crisis-hit Greece said however Wednesday it was sticking with the project. "We do not have any official information (...) on a Bulgarian withdrawal," Deputy Energy Minister Yannis Maniatis said. "Greece remains attached to its strategic choice, in view of the usefulness of the pipeline for both Greece and Bulgaria as well as for supporting Europe's energy security." He said that Greece was working to address the environmental issues around the project. Bulgaria last week granted the status of national importance to work on its stretch of the 3,600-kilometre (2,200-mile) South Stream gas pipeline to carry Russian gas to Europe. Sofia also plans to build a 100-kilometre (60-mile) pipeline to link up its gas network to the Greek one that will enable it to receive gas from the Caspian region via the ITGI pipeline project linking Turkey to Greece and Italy.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bulgaria pulls out of russiagreece oil pipeline Arab Today, arab today bulgaria pulls out of russiagreece oil pipeline

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bulgaria pulls out of russiagreece oil pipeline Arab Today, arab today bulgaria pulls out of russiagreece oil pipeline

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday