BULGARIA TO PROFIT EUR 2.8B FROM THE SOUTH STREAM

Yesterday marked the official start of the construction of the Bulgarian section of South Stream pipeline with a symbolic first connection of tubes at the compressor station of Rasovo. The event was broadcasted via video call to the Council of Ministers, where Gazprom leader Alexey Miller was hosted by the Bulgarian Prime Minister Plamen Oresharski and Minister of Economy and Energy Dragomir Stoynev.

This happened in less than a year after the official start of the pipeline from the Russian side, which happened on December 7, 2012 near the Russian city of Anapa on the other side of the Black Sea.

For the period 2013-2043, Bulgaria is expected to receive EUR 2.8 billion from the project.

Gazprom leader Alexey Miller described the South Stream as the biggest investment project in Europe. "For Bulgaria, there will be a EUR 3.5 billion direct investment and 2,500 new jobs for highly skilled professionals will be created. The new gas transmission infrastructure will also increase the investment attractiveness of Bulgaria" the Russian oil giant's head noted.