Tuesday, July 19, 2016

Russia may resume Burgas - Alexandroupolis oil pipeline project

Burgas-Alexandroupolis oil pipeline project may be resumed in case of difficulties with navigation through the Black Sea straits, Chief Executive Officer of the Russian pipeline operator Nikolai Tokarev said on Tuesday.

Bulgarian partners "surprised to the upside," Tokarev said.

"We have just recently received a formal notice they support prospects of Burgas-Alexandroupolis oil pipeline project. They are against winding-up a management company created for this project and deactivated. Everyone is now interested in it, including Bulgarian partners," he said.

This project was not archived, Tokarev said. "It has been actually developed and it can be taken off the shelf to start working if necessary. This is one of options," he added.

The existing management company for the project is still financed, Tokarev said. "We made an initiative in due time to terminate operations of this company so that not to bear extra financial costs. However, as soon as this initiative became practical, our Bulgarian partners notified us they would like to preserve and will participate in work of that company," he said.

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