Russia and Bulgaria sign gas transit deal

Apr 15, 1997 02:00 AM

Moscow and Sofia have signed a long-delayed gas transit deal, turning Bulgaria into a centre for distribution of Russian natural gas in the Balkans. Prime Minister Viktor Chernomyrdin and Bulgarian Prime Minister Stefan Sofiansky signed the deal after an hour and a half of talks in Moscow. Bulgarian officials said recently Sofia would get up to 115 bn cm of natural gas from Russia in the next 15 years at lower prices under the deal, which involves the transit of Russian gas to the Balkans and construction of new pipelines.
Bulgaria has a 2,200-km pipeline network, including 625 km of transit pipelines, but Russia wants to expand the network to meet growing Balkan demand. Bulgarian officials have said a Bulgarian-Russian joint stock company Topenergy, half-owned by Russia's RAO Gazprom , would enlarge the transit pipeline with credits from Gazprom.
In return Topenergy would get 40 % of fees for transiting the gas to Turkey, Greece, Macedonia and Serbia, they said.

Source: not available
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