Bulgaria will offer it shares in the Bourgas-Alexandroupolis oil pipeline project to private petrol companies, Regional Development Minister Assen Gagauzov said.

Foreign, non-Russian companies were interested in the share, Gagauzov told Dnevnik daily.

State-owned companies Bulgargaz and Technoexportstroy will be Bulgaria’s representatives in the international company responsible for the Bourgas-Alexandroupolis project.

Bulgaria will own 24.5 per cent of the international company and Bulgargaz and Technoexportstroy will hold equal shares, Gagauzov said.

The Cabinet will discuss the suggestion on February 14 2007. During the same sitting the Council of Ministers will also approve the pipeline agreement which Russia, Greece and Bulgaria already endorsed.

The pipeline will transport Russian oil through Bulgaria’s Black Sea port of Bourgas to the Greek port Alexandroupolis. Bulgaria, Greece and Russia will build the pipeline. The project completion is set for 2010. Bulgaria will earn nearly $35 million per year from transfer taxes.

The pipeline contract will probably be signed on March 6 2007, as suggested by Greek development minister Dimitris Sioufas, Dnevnik said.