Bulgaria approves construction of TurkStream

The Bulgarian company Bulgartransgaz has reached the final decision on investing in the project of the construction of the TurkStream gas pipeline, which will be used to transport Russian gas from the Bulgarian border with Turkey to Serbia, Reuters reports.

The decision was made after Bulgartransgaz received binding offers from three companies - including Russia's Gazprom - for an expansion of the Bulgarian gas transport system.

– We have very good news. The economic test for the project to expand the gas network completed successfully – Bulgarian Energy Minister Temenuzhka Petkova said in parliament.

Bulgarian daily Dnevnik quoted Petkova as saying transit fees from the new gas pipeline would exceed BGN 360 million euros a year. Last month, Bulgartransgaz opened a tendering procedure worth BGN 2.29 billion for the construction of a new, 484 km long, gas pipeline from the Nova Provadia compressor station to the Serbian border.

Serbian President Aleksandar Vucic announced recently that the construction of the extension of the TurkStream pipeline through Serbia, from Russia through Turkey and Bulgaria, would begin in the next few weeks. He said in an interview with RIA Novosti in Davos that Russia and Serbia were on the verge of reaching the final agreement on the price of the construction of the extension of the pipeline, in which Russia will invest USD 1.4 billion. He also said that the price of Russian gas was very favorable for Serbia.

Gazprom CEO Alexey Miller previously confirmed that the extension of the pipeline through Serbia would be built by the end of 2019. The 403-km pipeline would run from the Bulgarian to the Hungarian border.

Gazprom Moscow

Bulgartransgaz

Ministry of Energy of Bulgaria

TurkStream

TurkStream gas pipeline

construction of pipeline

Temenuzhka Petkova

Alexey Miller

Aleksandar Vučić

gas transit through Bulgaria

construction of TurkStream