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Bulgaria Economy Minister: Burgas-Alexandroupolis Could Go On

October 9, 2009 | Novinite | There are not too many reasons that would stop Bulgaria from continuing the implementation of the Burgas-Alexandroupolis oil pipeline project.

This is what Bulgaria’s Minister of Economy, Energy and Tourism, Traicho Traikov, said Friday after attending a presentation of the international company “Trans-Balkan Pipeline B.V.” about the project.

Traikov pointed out the meeting had not involved negotiations, just a presentation for his Ministry’s team to receive information from different viewpoints.

The Minister informed that environment preservation has been one of the main topics, adding that his impression is that the project’s implementation adheres to good practices in the sector.

Traikov explained that, according to data from the “Trans-Balkan Pipeline B.V.” there has not been a serious incident so far with the over 1 000 such installations around the globe.

“From what I heard today there is serious environmental work involved. Without committing 100% to the future of the project, it is clear to me the public must be informed,” Traikov is quoted as saying, promising public organizations would be invited during the next stage.

The assessment of the influence of the project on the environment is being prepared and will be ready in the beginning of 2010, the Minister further informed.

Bulgaria and Greece are shareholders in “Burgas-Alexandroupolis” with 24,5% each while Russia is the majority owner with 51%. The current project price is listed at USD 1,5 B.