Burgas-Alexandroupolis oil pipeline to be launched end of 2012

The oil transit pipeline connecting Bulgaria’s port of Burgas and Greece’s Alexandroupolis should be completed at the end of 2012. This new deadline was set Tuesday by representatives of the Russian company Transneft who met with the Bulgarian Prime Minister Stanishev, and the Regional Development Minister Gagauzov. The actual works on the ground will start in the fall of 2010. The project is expected to cost about USD 1,2 B, and 51% of the sum will be provided by the Russians, and the remaining by the Bulgarian and Greek sides.