Gazprom popustio pred zahtjevima Bugarske

Gazprom officially started the construction of land part of pipeline of South flow at the end of October, and on its most problematic part, Bulgaria part. For that purpose energetic giant had to approve to Bulgaria the discount on gas and do some serious concession according to the loan.

Sofia was at the beginning of year 2008 one of the first countries that signed international agreement on pipeline construction, and then the negotiations connected to Bulgaria part,in length of 540 m, for Gazprom became the most complicated.

Bulgaria first of all didn’t want to give the land, where the pipelines were supposed to go,under the ownership of joined company which realize this part and it insisted that company “Bulgaria energetic holding” was the owner of control shareholder package. At the end of 2011 parties agreed on equal participation in the job (50 % of shares each), and Bulgaria managed to get the discount for gas as well. But, in year 2012 Sofia again wasn’t satisfied with the profit from the project and tax on transit. Gazprom decided for one more discount, so it was enabled to Bulgaria, according to the announcement by president of UO Gazprom Aleksej Miller, the purchase of gas at “one of the lowest prices in Europe”. Apart from that, Gazprom agreed to allow the loan to “Bulgaria energetic holding” for pipeline construction. Bulgaria in return signed the investment decision on realization of its part of South flow, which it did as the last country of transit.

Apart from concession and loan terms, in agreement with Bulgaria there was also put the regulation which enables that South flow can be used by other gas distributors, on which European union insists.

South flow will at the bottom of Black sea go through Bulgaria, and then through Serbia, Hungary,Slovenia and Italy. The prices for construction are estimated on 16,5 milliard euro.The beginning of pipeline work is planned for December 2015 with the beginning capacity of 15,75 milliard cubic meters a year, while full capacity of 63 milliard cubic meters will be reached in 2018.

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