site.btaNew Energy Minister Orders Suspension of All Activities in South Stream Project

Sofia, August 18 (BTA) - Bulgaria's newly appointed Caretaker Minister of Economy and Energy, Vassil Shtonov, ordered the Bulgarian Energy Holding (BEH) to suspend all activities in the South Stream gas pipeline project until the project is brought in line with EU standards, Shtonov's Ministry reported on Monday.

The Minister required BEH to suspend any competitive bidding procedures and the signing of any agreements relevant to South Stream.

After a meeting on August 11, BEH also decided against contributing to an increase in the capital of the project company, South Stream Bulgaria AD, which had been authorized on December 11, 2013, by the then Economy and Energy Minister Dragomir Stoynev.

The new Minister required BEH to provide full cooperation to the European Commission in the South Stream-related infringement procedure against Bulgaria until the project is brought in compliance with EU law.