Putin meets with Bulgaria’s Stanishev over South Stream pipeline
Tue, 21 October 2008
RUSSIA’S Prime Minister Vladimir Putin met with Bulgarian Prime Minister Sergei Stanishev in September to discuss regional energy projects. Bulgaria signed-on as a South Stream pipeline partner in January, and is participating in the planned Russian oil pipeline by-passing the Turkish Straits via Greece. Negotiations with Central Asian gas producers on future deliveries of the fuel to Russia have almost been completed, raising the attractiveness of South Stream, Mr Putin told Mr Stanishev, according to reports from the meeting.
Russia, while holding the world's largest gas reserves, depends on producers such as Turkmenistan and Kazakhstan to offset declining output at mature Siberian fields. However, the EU is competing for the same Caspian resources for its Nabucco pipeline project, which by-passes Russia.