Construction work on South Stream will begin in June

Construction work on the Bulgarian section of the South Stream gas pipeline will be underway by June at the latest, according to Igor Elkin, Executive Director, South Stream – Bulgaria.

The South Stream gas pipeline is particularly significant to Bulgaria and has many benefits in terms of economy and energy. The pipeline is forecast to attract foreign direct investments of approximately €3 billion and create around 5000 jobs. It will be an important step in constructing additional gas infrastructure and expanding the country’s gas distribution network and will enable Bulgarian producers to increase their competitiveness. The new pipeline will comply with all local and European environmental regulations.

During a meeting with business representatives of the Varna region, located on the Bulgarian Black Sea Coast, Elkin stated that the pipeline project is on schedule. Elkin confirmed that Alexey Miller, Chairman of the Management Committee at Gazprom, has held negotiations with the Austrian Economy Minister to discuss the possibility of extending the pipeline to Austria and also noted that talks with the European Commission (EC) will continue. Political events are not expected to affect economic interests in the EU.

Edited from various sources by Rosalie Starling

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