We use cookies
to help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

Russia and Bulgaria begin construction of Balkan Stream gas pipeline

BLACK SEA
OIL & GAS

Russia and Bulgaria begin construction of Balkan Stream gas pipeline

Bulgaria begins construction of the Balkan Stream gas pipeline with Russian participation, Bulgarian Prime Minister Boyko Borisov reported after talks with the Minister of Industry and Trade of Russia, Denis Manturov.

According to the minister, a state company from Saudi Arabia became the executor of the project. 90% of pipes for the Balkan Stream have already been delivered to Bulgaria from Russia. Funding has been secured, 308 km of the gas pipeline will be built before the end of January 2020, Borisov said.

«After the failure of the South Stream, the Balkans are now given a new chance to implement a project to build a global gas pipeline,» the Bulgarian Prime Minister emphasized.

The Italo-Saudi consortium Arcad won the tender for the construction of a gas pipeline to Serbia through the territory of Bulgaria. The contract was signed on September 18, after a series of trials.

Arcad was ready to build the gas pipeline for € 1.29 billion in 250 days, or € 1.1 billion in 615 days. 

The forecast of investment costs is about € 1.4 billion. The funds will be invested in the construction of additional infrastructure in accordance with plans for the development of new gas flows in the region. The bulk of the funds will be spent on the construction of a 484 km gas pipeline with Serbia, two compressor stations and an 11.5 km gas pipeline from the Bulgarian-Turkish border to the Stranja compressor station. 

The annual profit of Bulgartransgaz with the successful implementation of the project will be about € 180 million.

Relevant news

BLACK SEA
OIL & GAS
Bulgarian Minister: The Increase in Price of Gas is 54% not 90% because of the Deal with Azerbaijan
Bulgargaz's proposal to increase the price of blue fuel by 54 percent in August.
BLACK SEA
OIL & GAS
Bulgaria works on renewables portfolio expansion, plans offshore wind, floating solar
Bulgaria intends to start pilot projects for floating solar power plants and geothermal power plants by the end of the year.
BLACK SEA
OIL & GAS
Eyeing Bulgaria-Greece interconnector completion, Romania shops for Azerbaijani fossil fuels
Virgil Popescu is trying to persuade Azerbaijan to increase oil and gas deliveries to Romania.
BLACK SEA
OIL & GAS
Bulgaria will sign a contract for the design of new gas interconnector with Serbia
Bulgaria will sign a contract for the design of a new gas interconnector with Serbia.
BLACK SEA
OIL & GAS
Bulgaria and Greece plan joint gas purchases
Bulgaria and Greece agreed on Thursday to seek joint gas deliveries for southeastern Europe.
BLACK SEA
OIL & GAS
Bulgarian PM in Romania: It is a great opportunity to buy liquefied gas together
Bulgaria and Romania to buy liquefied gas together.