GAZPROM is to start new talks with Bulgaria on extending the term of the contract for transiting Russian natural gas by another 15 years, the Russian company's head Alexei Miller told a business forum in the Riviera resort, near Varna on June 10.
The forum was the Seventh Annual Meeting of the European Business Congress, of which Miller is president.
The annex to the gas contract will set new prices for the transit that will be tied to the increased volumes of the gas passing through the country to Greece and Serbia.
The Russian gas giant has made preparations towards a new project for new gas pipelines through Bulgaria that will increase the volume of the fuel delivered to Greece to at least six billion cubic metres a year and to 1.5 billion to Serbia.
Currently, Bulgaria transits a little more than two billion cubic meters of gas to Greece, Overgaz executive director Sasho Donchev said.
The project for the new gas pipelines will be implemented through Bulgargaz. The company might even issue bonds or shares to cover the expenses.
Gazprom insists that the gas transit increase should be compensated for by a decrease in transit fees.
"Co-operation between Bulgaria and Russia in the gas industry was the subject of our meeting with President Georgi Purvanov," Miller told a news conference after the forum.
He said that they had also discussed the forthcoming meeting between Purvanov and his Russian counterpart Vladimir Putin in Moscow in July.
"We are planning to extend the term of the contract for gas transfer across Bulgaria by another 15 years," Miller said.
He said that Gazprom wanted a list of Bulgarian companies pending privatisation and would decided on its interests during the visit by Purvanov to Moscow.
"We are also ready to participate in the gasification of Bulgaria; the volume of consumption in this country is increasing and we can participate with investments," Miller said.
Welcoming the participants in the meeting of the European Business Congress in Riviera, Purvanov called for the establishment of a free trade zone in South-Eastern Europe.
"I would like to emphasise the responsibility of all institutions for the European prospects of Bulgaria and of the Balkans as well," Purvanov said, adding that efforts should be made to evolve a regional development strategy.
The priority tasks facing the countries in the region are development of Pan-European Transport Corridors IV, VII, VIII, IX and X, Deputy Prime Minister and Economy Minister Lydia Shuleva said.
She outlined the development of a regional electricity market and of the telecommunication network.
"The Government will support all infrastructure development projects of the public-private sector," Shuleva said.
She said that talks were underway with international consultants and financial institutions on awarding concessions for three of Bulgaria's major highways.
Foreign Minister Solomon Passi told the forum: "Now that Bulgaria has already joined NATO and its admission to the European Union is forthcoming, this country is an investors' paradise."
Passi called on participants to take advantage of this.
The forum was the Seventh Annual Meeting of the European Business Congress, of which Miller is president.
The annex to the gas contract will set new prices for the transit that will be tied to the increased volumes of the gas passing through the country to Greece and Serbia.
The Russian gas giant has made preparations towards a new project for new gas pipelines through Bulgaria that will increase the volume of the fuel delivered to Greece to at least six billion cubic metres a year and to 1.5 billion to Serbia.
Currently, Bulgaria transits a little more than two billion cubic meters of gas to Greece, Overgaz executive director Sasho Donchev said.
The project for the new gas pipelines will be implemented through Bulgargaz. The company might even issue bonds or shares to cover the expenses.
Gazprom insists that the gas transit increase should be compensated for by a decrease in transit fees.
"Co-operation between Bulgaria and Russia in the gas industry was the subject of our meeting with President Georgi Purvanov," Miller told a news conference after the forum.
He said that they had also discussed the forthcoming meeting between Purvanov and his Russian counterpart Vladimir Putin in Moscow in July.
"We are planning to extend the term of the contract for gas transfer across Bulgaria by another 15 years," Miller said.
He said that Gazprom wanted a list of Bulgarian companies pending privatisation and would decided on its interests during the visit by Purvanov to Moscow.
"We are also ready to participate in the gasification of Bulgaria; the volume of consumption in this country is increasing and we can participate with investments," Miller said.
Welcoming the participants in the meeting of the European Business Congress in Riviera, Purvanov called for the establishment of a free trade zone in South-Eastern Europe.
"I would like to emphasise the responsibility of all institutions for the European prospects of Bulgaria and of the Balkans as well," Purvanov said, adding that efforts should be made to evolve a regional development strategy.
The priority tasks facing the countries in the region are development of Pan-European Transport Corridors IV, VII, VIII, IX and X, Deputy Prime Minister and Economy Minister Lydia Shuleva said.
She outlined the development of a regional electricity market and of the telecommunication network.
"The Government will support all infrastructure development projects of the public-private sector," Shuleva said.
She said that talks were underway with international consultants and financial institutions on awarding concessions for three of Bulgaria's major highways.
Foreign Minister Solomon Passi told the forum: "Now that Bulgaria has already joined NATO and its admission to the European Union is forthcoming, this country is an investors' paradise."
Passi called on participants to take advantage of this.
