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Gazprom and BEH EAD Sign Agreement on FS

Source: www.gulfoilandgas.com 10/25/2010, Location: Asia

Gazprom and Bulgarian Energy Holding EAD (BEH EAD) signed an Agreement on FS for Bulgarian section of the South stream gas pipeline.

The document specifies the mechanisms and sets the timeframes for cooperation between Gazprom and Bulgarian Energy Holding when performing the feasibility study for the South Stream construction in Bulgaria.

"South Stream is implemented on schedule. Under the last week arrangements an agreement was signed today that will give a fresh impetus to the Bulgarian project. There are no contradictions left anymore between Gazprom and Bulgarian Energy Holding. Much as there are no more barriers for us to set up a joint venture that will assume responsibility for designing, constructing and operating the Bulgarian section of the gas pipeline.

South Stream is definitely a success. We are confident that national feasibility studies for the project will be carried out on the best effort basis and as late as in the first half of 2011 we will be able to take decision on the European route optimization with due consideration for all the existing possibilities," Alexey Miller said.

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