Russias Gazprom reportedly willing to finance Bulgarian part of South Stream.

By bne IntelliNews June 11, 2012
Russias gas giant Gazprom is willing to finance the Bulgarian part of the South Stream gas pipeline and compensate these investments with future gas transit payments, RIA Novosti reported citing a source familiar with the project. Bulgarias economy and energy minister Delyan Dobrev said last week that Sofia may not sign the South Stream agreement by the November 15 deadline due to new demands from Russia concerning the financial models of the project. According to the source, the difficulties arose due to the fact that Bulgaria had not enough funds to finance its part of the project. The construction of the South Stream pipeline will start by the end of 2012 and it is scheduled to start operating in 2015. The pipeline is to deliver 63bn cubic meters of Russian gas annually to south and central Europe, diversifying Russias gas routes away from transit countries such as Ukraine.

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