Gazprom, Bulgarian Energy Holding Select Contractor to Perform Feasibility Study for Bulgarian Section of South Stream

In pursuance of the Agreement on the feasibility study for the Bulgarian section of the South Stream project the tender committee comprising representatives from Gazprom and Bulgarian Energy Holding EAD summarized the results of an open tender procedure for selecting a contractor to perform the feasibility study for the South Stream gas pipeline construction in the Republic of Bulgaria.

A Consortium between YUZHNIIGIPROGAZ and GASTEK BG AD was pronounced the tender winner.

Background

Russian natural gas has been exported to Bulgaria since 1974. In 2010 according to provisional data, Gazprom export supplied the country with some 2.6 billion cubic meters of gas. Gazprom delivers gas to Turkey, Greece and Macedonia via Bulgaria.

In July 2010 Russia and Bulgaria signed the Roadmap to perform the feasibility study for the Bulgarian section of the South Stream project.

The Roadmap is a plan of top priority actions needed for the project implementation in Bulgaria.

In pursuance of the Roadmap, on October 25, 2010 Gazprom and Bulgarian Energy Holding signed the Agreement on the feasibility study for the Bulgarian section of the South Stream project.

On November 5, 2010 the parties initiated the open tender procedure for selecting a contractor to perform the feasibility study.

On November 13, 2010 Gazprom and Bulgarian Energy Holding signed the Shareholders’ Agreement and the Articles of Association for the South Stream Bulgaria AD joint project company (JPC) established on a parity basis for the South Stream project implementation in Bulgaria. The JPC was registered in December 2010.

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Source: Gazprom, February 9, 2011;