The Largest Oil & Energy Job Board

​Bulgaria offers gas hub to compensate for cancelled South Stream

Bulgaria wants to build a European-scale gas storage facility to replace the cancelled South Stream gas pipeline, and become ‘number one’ in terms of diversification, says Prime Minister Boiko Borisov.

He has offered to build gas storage facilities in Varna, where the Bulgarian section of South Stream was supposed to begin, the Noivite news agency quotes a transcript of a government meeting. The Prime Minister suggests the EU could pay for the hub’s construction.

"The European Commission pays for the hub, we construct a distribution center for the energy union in Varna, and become ‘number one’ in terms of diversification," he said.

The construction of storage facilities is in the interests of Bulgaria, Borisov added.

"We have to solve this problem. We offer the European Commission and the whole of Europe a great option of locating the gas hub in Bulgaria, not in Turkey,” he said.

Borisov is also apparently considering supplying gas to Ukraine in case there are problems or crises.

Russia suspended the construction of the South Stream pipeline on December 1 when President Putin was visiting Turkey. The pipeline with the capacity of 63 billion cubic meters was planned to run through Bulgaria, Serbia, Hungary, Austria, Italy and Slovenia.

NA
Copyright:
Reuters
Published on:
December 11, 2014
Source url:
http://rt.com/business/213415-bulgaria-south-stream-alternative/
Copyright © 2016, OilFinity. All Rights Reserved. Powered by Talenetic Job Board Software