Russia admits resuming South Stream gas pipeline project

Russia admits resuming South Stream gas pipeline project
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South Stream gas pipeline project, suspended in 2014, will probably be implemented, the commercial attaché of Russia in Bulgaria, Igor Ilingin, said at a business forum in Varna, Bulgaria.

In December 2014, due to “unconstructive stance” of the EU, Russia announced the termination of works over South Stream gas pipeline project in favor of a new pipeline towards Turkey (a so-called Turkish Stream). The South Stream pipeline was designed to run through the territory of Bulgaria, Serbia and Hungary.

“Perhaps the project South Stream — editor’s note) will be realized”, — Dnevnik cites Ilingin, who also recalled the words of Russian President Vladimir Putin that Moscow needed “rock-solid guarantees” on the part of Bulgaria in order to resume the project.

Also, according to the commercial attache in Bulgaria, Russian investors show interest in other projects that can be implemented in the port of Varna, as this port, due to its favorable location, has been yielding a fair return in recent times.