After the meeting of Kostis Khatzidhakis, the Greek development minister, with Nikolai Tokarev, the president of Russia's state pipeline operator Transneft, it was announced that the counstruction of Burgas-Alexandroupolis oil pipeline had been scheduled for 2010.
The Greek Minister said the ministry will submit a draft law to parliament by June 2009 that would expedite construction of the pipeline. The pipeline is going to be defined as a project of national significance to avoid bureaucratic difficulties.
Russia, Bulgaria and Greece signed a memorandum on the Burgas-Alexandroupolis oil pipeline in April 2005. Once completed, the pipeline will pump 257 million bbl of oil a year, and eventually will be increased to 368 million bbl.
Under an inter-governmental agreement signed in 2007, Russia holds 51% in the project company, while Greece and Bulgaria hold 24.5% each.
Author: Ksenia Kochneva
