Shareholders in the South Stream gas pipeline plan to seek an exception to European Union regulations in order to control up to 70% of the pipeline's capacity and limit access to third parties, Bulgaria's energy minister said Tuesday.
Shareholders in the South Stream gas pipeline plan to seek an exception
to European Union regulations in order to control up to 70% of the pipeline's
capacity and limit access to third parties,
Bulgaria
's
energy minister said Tuesday.
"The joint company will ask the European Commission for a derogation"
from new European plans aimed at liberalizing the gas markets by forcing
companies to separate their supply and production activities from network
operation, Economy and Energy Minister Traicho Traikov told journalists.
The commission will be asked to "reserve 50%, 60% or 70% of the capacity
of the pipeline for its shareholders and liberalize the rest," he said.
Saturday, Russian Prime Minister Vladimir Putin slammed EU plans to liberalize
the gas market, warning that opening major gas transportation links to smaller
players would hike prices and threaten the security of deliveries.
Putin's statement drew ire from
Brussels
, with
European Commission energy spokeswoman Marlene Holzner urging
Bulgaria
and
Russia
to
ensure third-party access to the pipes and to revise their 2008
intergovernmental agreement accordingly. Under the accord, South Stream
shareholders were to have full control over the pipeline's capacity.
Traikov confirmed Tuesday the intergovernmental agreement would have to be amended
if it had to conform with EU gas market liberalization requirements--due to
come into force in March 2011.
The issue of amending this initial deal wasn't discussed during weekend energy
talks between
Russia
and
Bulgaria
in
Sofia
but
will be brought up in the future, Traikov noted.
Saturday, the state-owned Bulgarian Energy Holding and Russian gas giant OAO
Gazprom (GAZP.RS) set up a 50-50 joint venture company to build the Bulgarian
stretch of South Stream.
The pipeline will feed an annual 63 billion cubic meters of Russian gas to
Europe
with
first deliveries expected at the end of 2015.
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