Bank Of Baku

Russia to pull out of Burgas-Alexandroupolis pipeline project

Russia to pull out of Burgas-Alexandroupolis pipeline project
# 16 February 2011 12:38 (UTC +04:00)
Acording to Vedomosti newspaper, Transneft, Rosneft and Gazprom companies will announce today their decision to end financing for the strategic pipe, which was supposed to go online this year but has repeatedly been delayed after Bulgaria and Greece declared its environmental impact assessment unsatisfactory.

The Burgas-Alexandroupolis pipeline was originally meant to ensure cheaper transit of Russian oil to consumers in the Mediterranean.
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THE OPERATION IS BEING PERFORMED