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We don't know if South Stream will be profitable

Staff writer |
As of now there is no signed agreement for the transit fees from the South Stream gas pipeline, said Bulgaria's caretaker deputy PM Ekaterina Zaharieva.

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"No matter how much South Stream would cost, we don't know if it will be profitable, as we don't know what the benefits for us will be", Ms. Zaharieva said. The statement of Zaharieva refutes the claims of the previous energy minister Dragomir Stoinev who was saying that Bulgaria got "the best possible financial conditions" and Bulgaria's best interests were "fully protected".

According to Zaharieva, the only clear benefit from South Stream so far was the possible diversification of gas deliveries, but only after the reverse-flow interconnections with Greece, Turkey and Romania are completed.

"I am stunned how the previous government made expenses and signed contracts for deliveries and construction, without knowing what the transit fees from this project will be," Ms. Zaharieva added. In her words, it was most important that such an agreement is signed as soon as possible.

Ms. Zaharieva also told bTV that both Bulgaria and Russia wanted South Stream to be realized, but the "string of errors of political figures turned it into a sensitive topic for the public". In her words it was important that the project be structured in such a manner, that no-one doubts that there was something improper in it.