SOFIA, Bulgaria, Feb. 23 (UPI) -- Sofia opposes the construction of the Burgas-Alexandroupolis oil pipeline until an environmental assessment is made in the region, officials said.
Russia, Bulgaria and Greece agreed in 2007 to move forward with the 174-mile pipeline from the Black Sea to the Aegean Sea along an overland route.
Bulgarian Finance Minister Simeon Djankov said his country would hold off making a decision on the pipeline until environmental groups examine the issue, Bulgaria's Standart newspaper reports.
"We respect the opinion of the Burgas citizens and we'll put the construction works on hold until they are given a green light by the environmentalists," he said.
Bulgarian Prime Minister Boyko Borisov said in December the contract for Burgas-Alexandroupolis was "not profitable for Bulgaria," signaling he would balk on agreements signed by the previous government.
Nikolay Tokarev, the chief executive at Russian oil transit company Transneft, countered the Bulgarian premier, saying Sofia stood to make as much as $50 million per year in transit fees from the pipeline.
The $900 million Burgas-Alexandroupolis oil pipeline is to be completed near the end of 2011.
