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22.03.2018 13:38
South Stream Project discontinued, Bulgartransgaz purchases the project company assets for 13,

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The South Stream Project has been discontinued and Bulgartransgaz will become the owner of the project company assets in return for 13, This was brought to light by a decision of Bulgartransgaz regarding the public procurement for purchasing assets and property from South Stream Bulgaria Project Company which was announced on 6 March. Only one candidate applied for it and, of course, it was the winner – the project company itself.

In return for the sum mentioned above, Bulgartransgaz is going to acquire the Report on the Environmental Impact Assessment, a detailed land use plan – a plot plan and a development plant, technical projects, geotechnical, geological and archaeological research and an established building lease. Bulgartransgaz is also going to acquire 28 properties owned by South Stream Bulgaria and a building lease for 5 plots issues in favour of South Stream Bulgaria.
The procedure was made necessary after the Minister of Energy, Temenuzhka Petkova, sent a letter to Bulgartransgaz on 26 January. The letter was inspired by information that South Stream Bulgaria shareholders, the Bulgarian Energy Holding (50%) and Gazprom (50%) had adopted a decision for discontinuing their activities on the project and had set a term for the directors of the joint venture to sell their assets at South Stream Bulgaria.
BEH’s Executive Director, Petio Ivanov, stated that it would be appropriate South Stream Bulgaria assets to remain within the BEH group and to be used for other projects which are going to be implemented by Bulgartransgaz.

TAGS: South Stream Bulgaria | assets 

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