site.btaPM Zhelyazkov Describes Balkan Stream as Very Well Structured Business Project

Prime Minister Rosen Zhelyazkov commented Thursday on the fate of Balkan Stream - the Bulgarian extension of the TurkStream gas pipeline, which runs from the country's southern border with Turkiye to its western border with Serbia. "Balkan Stream, in the context of the EC's latest intentions, has shown that it is not a political project but a very well-structured business project and will continue to function," he said.

"Its functional role to ensure energy security and security of natural gas supply, regardless of the source, is decisive for this," Zhelyazkov added.

The pipeline was put into operation in December 2020. According to Reuters, about 19% of Europe's gas still comes from Russia, via the TurkStream pipeline and LNG shipments, down from roughly 45% before 2022.

On Wednesday, the EC proposed gradual phase-out of Russian gas and oil imports into the EU, aiming to effectively stop the import by the end of 2027. "This will end the EU's exposure to market and economic security risks due to dependency on Russian fossil fuels, and ultimately boost the Union's energy independence and competitiveness," the press release reads. EC President Ursula von der Leyen said: "Russia has repeatedly attempted to blackmail us by weaponizing its energy supplies. We have taken clear steps to turn off the tap and end the era of Russian fossil fuels in Europe for good.”