Russian Transneft accused Bulgaria of inactivity on the execution of the Bourgas-Alexandroupolis oil pipeline project.

After 13 years of negotiations, Russia, Bulgaria and Greece signed and agreement for the construction and management of Bourgas-Alexandroupolis on March 15, 2007.

Russian state-owned Transneft, Rosneft and Gazpromneft will take part in the project together with Greek and Bulgarian companies.

Transneft’s president Simon Vainshtock said that during the final negotiations, Bulgaria turned out to be unprepared for the setting up of the international company to deal with the project.

Russia and Greece reached an agreement about the companies to take part in the project while Bulgaria remained inert, Vainshtock said.

This could lead to yet another set of difficult negotiations once the pipeline starts functioning, Vainstock said.