MOSCOW, May 7 (UPI) -- Closer relations with Russia are being spurred by increased energy cooperation, Bulgarian Prime Minister Sergey Stanishev said Monday.
"First, there is the construction of the Burgas-Alexandroupolis oil pipeline. ... Second, there is the Bulgarian project for the construction of a new nuclear power plant. The tender for that has been won by the Russian company Atomstroyeksport together with the German company Siemens and the French company Areva.
"And there is an agreement for the supply of gas and transit of gas through Bulgarian territory, which -- in my opinion -- meets the interests of both countries since it is a long-term agreement that ensures the stability of supplies and transit for the Russian side."
The comments made at a meeting with Sergey Mironov, speaker of the upper chamber of Russia's parliament, were reported by Russian RBK TV.
The 175-mile, $1 billion Burgas-Alexandroupolis oil pipeline brings together Russia, Greece and Bulgaria. It bypasses Turkey.
It is seen as a contributor to energy security in the region. It will stretch from Russian oil fields to European, Pacific Asia and U.S. markets.
More than 257 million barrels a year will flow to ports in Burgas, Bulgaria, on the Black Sea, as well as Alexandroupolis, Greece, on the Aegean Sea, and then to world markets. Total annual exports through the pipeline could increase to more than 367 million barrels.
Transneft, Russia's state pipeline monopoly, and Gazprom, Russia's natural-gas monopoly, will share a 51-percent stake in the project. Greece and Bulgaria each will own 24.5 percent.
