Bulgaria’s Borisov to Follow EU Decisions on South Stream Project

While the front-runner for Bulgaria's leadership openly says that the South Stream project will go ahead only in case of European support, Gazprom says that the project is ‘advancing in strict compliance with the schedule.’

Bulgaria’s Boiko Borisov told Reuters that he would exclude any company from bidding to take part in the project if subject to sanctions imposed by the European Union or the United States, following European indications and decisions.

Borisov, who leads the centre-right GERB party, had also said he would scrap a tender awarded to a consortium led by Russia's Stroytransgaz for the Bulgarian section of the pipeline. Early elections are set to take place in September or October, with GERB party leading according to recent polls.

The pipeline would transit Bulgaria, before splitting into two routes, one through the Balkans to Austria and one through Greece to Italy. However, doubts remain on the final route. 

On the other hand, Gazprom’s Alexey Miller met Slavenko Terzic, Ambassador Extraordinary and Plenipotentiary of the Republic of Serbia to the Russian Federation, on Tuesday. 

‘The meeting participants reviewed the bilateral cooperation in the gas sector, paying special attention to the progress with South Stream… At present, the bidding procedure for designing, constructing and commissioning the Serbian section is nearing completion. The bidding results will be announced and the relevant agreement will be signed in late June 2014,’ reads a note released by Gazprom.

According to Miller, the project with a capacity of 63 bcm will supply first gas in late 2015. He confirmed that the gas pipeline will reach its full capacity in 2018.