Contractors Unlimited

Contractors to be announced for Bulgarian section of South Stream in March

Gazprom Alexey Miller, Chairman of the Gazprom Management Committee, has led the Company's delegation on a working visit to the Republic of Bulgaria today.

During the visit Alexey Miller met with Boyko Borisov, Bulgarian Prime Minister and Traycho Traykov, Bulgarian Minister of Economy, Energy and Tourism.

The negotiating parties discussed the current issues of the Russian-Bulgarian cooperation in the energy sector placing an emphasis on the joint efforts of Gazprom and the Republic of Bulgaria within the South Stream project progressing on schedule.

South Stream Project Map

This March South Stream Bulgaria AD will sum up the results of the open tender for contractors to carry out spatial planning, environmental impact assessment and prepare project documents for the gas pipeline section in Bulgaria.

Alexey Miller also met with Dimitar Gogov, Executive Director of Bulgargaz. The parties discussed the prospects for a new long-term contract for Russian gas supply to Bulgaria.

Background

Russian natural gas has been exported to Bulgaria since 1974. In 2011 Gazprom Export supplied the country with 2.81 billion cubic meters of gas.

With a view to diversify the natural gas export routes Gazprom is implementing the project for construction of a gas pipeline running under the Black Sea to the countries of Southern and Central Europe - the South Stream project.

Intergovernmental agreements were signed with Bulgaria, Serbia, Hungary, Greece, Slovenia, Croatia and Austria in order to implement the onshore gas pipeline section.

In July 2010 Russia and Bulgaria inked the Roadmap to perform the feasibility study for the Bulgarian section of the South Stream project.

In pursuance of the Roadmap, on October 25, 2010 Gazprom and Bulgarian Energy Holding signed the Agreement on the feasibility study for the Bulgarian section of the South Stream project.

On November 13, 2010 Gazprom and Bulgarian Energy Holding signed the Shareholders Agreement and the Articles of Association for the South Stream Bulgaria AD joint project company (JPC) established on a parity basis for the South Stream project implementation in Bulgaria. The JPC was registered in December 2010.

On December 16, 2011 Gazprom and Bulgarian Energy Holding completed the legal procedures related to the feasibility study done by the contractor for the Bulgarian section of the South Stream gas pipeline.

Bulgargaz is a wholly-owned subsidiary of Bulgarian Energy Holding.

Published 01/03/2012

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