Bulgaria backs out of Russian pipe

Middle East Times
Wednesday 13th March, 2013

The Bulgarian Parliament said supporting the planned Burgas-Alexandroupolis oil pipeline was no longer feasible given the financial aspects of the project. Bulgaria signed an agreement in 2007 with Russia and Greece to build the 174-mile Burgas-Alexandroupolis oil pipeline to bypass crowded waterways near Turkey by crossing an overland route to the Aegean Sea. Outgoing Finance Minister Simeon Djankov said the project wasn’t feasible and therefore couldn’t get the financing necessary to move forward, reports the Sofia News Agency. Parliament passed a measure formally ending Sofia’s ties to th…

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