The shareholders of the Trans Balkan Pipeline (TBP) project company that will build the Burgas-Alexandroupolis oil pipeline will discuss in October the financial and environmental aspects of the project, Russia's oil pipeline monopoly Transneft said.
Russia, through its oil producer Rosneft, oil pipeline monopoly Transneft and Gazprom Neft, the oil unit of gas export monopoly Gazprom, holds a 51% stake in the Trans Balkan Pipeline (TBP) project company that will build the Burgas-Alexandroupolis oil pipeline. The remainder is split evenly between Greece and Bulgaria.
Russia and Bulgaria reached a principle agreement that there is constructive progress on the project's financing model, taking into account the market interests and environmental issues and the project's long-term feasibility, Transneft's vicepresident Vladimir Kushnarev said in a statement on Wednesday, following a meeting in Moscow with Rumen Porozhanov, head of the cabinet of Bulgaria's Finance Minister and Deputy Prime Minister Simeon Dyankov.