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Bulgaria gives up Burgas-Alexandroupolis project due to financial reasons

Article published from StandartNews on 2011-12-07 12:52:00
Category: Other in Bourgas

Bulgarian Black Sea city of Bourgas has found a rescue from the Bourgas-Alexandroupolis oil pipeline. Bulgaria gives up the project due to financial reasons. This information is expected to be voiced by Bulgaria`s PM Borissov today.

For the past two years Bulgaria did not pay its compulsory contribution to the international company which amounts to over 6 million euro. The decision comes only a few days after Bulgaria`s ministry of environment and waters published officially the report on the oil pipeline impact on the environment.

The ecological assessment is positive. In the joint project company named Trans Balkan Pipeline, Russia holds 51%, while Bulgaria and Greece hold 24,5% each. Recently Moscow announced it would freeze the project but would not give up its construction as it had EU`s approval.

Bourgas citizens and green organizations stood firmly against the construction of the pipeline as it would have a negative influence on environment and tourism in the region
Source of the article StandartNews 0/5 (0)
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