August 2010 Vol. 237 No. 8

Projects

Greece Seeks To Salvage Bulgarian Pipeline Project

Greece will undertake a diplomatic initiative in an effort to salvage the Bourgas-Alexandroupolis gas pipeline project which was scrapped by Bulgaria. The Greeks are concerned because Bulgaria plans to pull out of the project permanently.

Bulgarian Prime Minister Boiko Borissov said he will support construction of the Belene nuclear plant only if there were coherent financial parameters for the project and a sound basis for return on investment, but that the Bourgas-Alexandroupolis pipeline project is a no-go.

He said the decision was taken because the pipeline was planned to cross a section of land that is a national reserve and that local residents were staunchly opposed to it.