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Bulgaria announced the freezing of the gas pipeline “South Stream”. Minister of Economy and Energy of Bulgaria Vasil SHTON instructed Bulgarian Energy Holding suspend all activities under the project “South Stream”. The reason for this decision was “non-compliant project to the requirements of the European Commission,” according to the website of the Ministry.
SHTON said that the project will remain frozen until such time as there is no meet the requirements of the European Commission. Now the minister ordered to cease all activities under the project, including new contracts.
The EU has demanded from Bulgaria to suspend the construction of the “South Stream” on June 3. Brussels pointed out the inconsistency of the project with European Third Energy, pursuant to which the owners of the pipelines located in the European Union can not be companies that are engaged in the production of gas. Furthermore, the EU suggests that while contracts for the construction of a gas pipeline Bulgarian and Russian companies have privileges.
In early August, the company “Stroytransgaz”, 50% of which is owned by Gennady Timchenko, abandoned construction of the Bulgarian section of the “South Stream”. Successor company in the Russian-Bulgarian consortium was owned by Gazprom “Tsentrgaz.”
The construction of the “South Stream” conducted from 2012. Capacity of the pipeline should reach 63 billion cubic meters. m per year. Part of the pipeline will be laid under the Black Sea. Pipe length of about 1.5 thousand. Km pass through the territory of Bulgaria, Serbia, Hungary and Slovakia. Gazprom allows construction of a branch in Austria. The pipeline is planned for 2015., At full capacity it will be released in 2018.
George Peremitin
August 18, 2014
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