site.btaPartners in Ruling Majority Differ on Benefit of TurksStream Extension via Bulgaria

Representatives of GERB-UDF and Continue the Change - Democratic Bulgaria (CC-DB) Friday clashed on whether the extension of the TurkStream gas pipeline via Bulgaria is profitable or is detrimental for Bulgaria. GERB leader and former Prime Minister Boyko Borissov, who had the project built on his watch, called the project "a money printing machine" but MP and economics experts Martin Dimitrov called it "a loss-making machine".

On his way into the opening sitting of Parliament's new session on Friday, Borissov was asked by reporters about suspected irregularities in the contracting procedure for the construction of the TurkStream gas pipeline extension in Bulgaria, which he calls Balkan Stream. 

The prosecution service said on August 31 that it is going to look into reports of irregular contracting in the project that was built in Bulgaria under Borissov as Prime Minister as a top-priority project.

Borissov said: "I believe that with Balkan Stream - at a time when Turkey and Greece did everything possible to isolate Bulgaria from the gas transmission routes and make sure they go only through Turkey and Greece - we fought and built Balkan Stream, which is 100% state-owned. 100% owned by you and currently a money machine for Bulgarian citizens. Every year in the order of BGN 700-800 million go into your pockets, to all Bulgarians. Is this bad?! Do I have to explain why it is not in Greece, why it is not in Turkey?! I am not a traitor! On the contrary - I have done everything for the benefit of the Bulgarians."

Martin Dimitrov: An unnecessary and inefficient project

In the corridors of Parliament, MP Dimitrov of CC-DB said that "regretfully, TurkStream has been a moss-making machine" for Bulgaria. He said the project was unnecessary and inefficient for this country, and entailed huge costs. He said the only benefit is for Russia - not for Bulgaria.

He said that according to figures provided by the caretaker government of Galab Donev, TurkStream brought Bulgaria revenue of BGN 370 million and profit of BGN 260 million but the costs for its construction totaled BGN 3.3 billion, "which makes a loss of BGN 3 billion". 

"If things go at this pace, it will take 13 years to recoup the investment. But the way the gas market is changing, and with this military conflict [in Ukraine], there is a risk for the investment to never recoup," Dimitrov said.

Minister in Moscow?

In his comment for the press, Borissov also urged them to investigate whether there was a meeting in Moscow on Balkan Stream between the current Minister of Regional Development and Public Works, Andrei Tsekov, and Russian MP Alexander Babakov. He would not provide further details and said the reporters should try to find out themselves.

Babakov's name cropped up in an investigation by the Anti-Corruption Fund into irregular contracting for Balkan Stream, involving officials Bulgaria, Russia and possibly Saudi Arabia.

In a press release later on Friday, the Regional Development Ministry denied that there has been a meeting between Tsekov and Babakov. "Andrei Tsekov travelled to Russia over 10 years ago and has not met Russian politicians," the Ministry said.