site.btaBulgaria Not Notified of South Stream Project Termination

Bulgaria Not Notified of South Stream Project Termination

Sofia, January 20 (BTA) - Bulgaria has not been officially notified that the South Stream gas pipeline project has been terminated, the Energy Ministry in Sofia said on Wednesday, reacting to a report by Russia's TASS news agency that the agreement on the South Stream project has been dissolved.

TASS said Gazprom's board of directors has approved the agreements concluded by Gazprom with South Stream Transport B.V. on termination of the contract of suretyship regarding obligations of Gazprom Export on the gas transportation agreement from October 2, 2013. South Stream Transport B.V. agreed to free Gazprom from fulfilling all obligations on the contract of suretyship regarding obligations of Gazprom Export on the gas transportation agreement from October 2, 2013 and dissolve the contract.

Earlier Bulgarian media reported that the works on the South Stream project would be resumed within a few weeks, TASS recalled. On December 1, 2014 President Vladimir Putin said Russia will not implement the South Stream project amid the current environment, the Russian news agency said.