Gazprom convinced Bulgaria to set up a mixed company to build South Stream / The memorandum with Romania influenced Bulgaria 

Bulgarian officials and Gazprom officials agreed to set up, in November, a mixed sociaty each with a 50% participation to build South Stream on Bulgaria’s territory, Novinite.com reads. The announcement was made by Gazprom president Alexei Miller after a meeting with Bulgarian PM Boiko Borisov and Turkey’s Ambassador to Sofia. In these conditions, Romania’s chances to participate in the project dropped considerably despite the memorandum signed on Wednesday in Bucharest with Gazprom President Alexei Miller. The Bulgarian press reads that Gazprom used Romania to pressure Bulgarians into a decision.

The two parties agreed to accelerate the creation of a mixed Russian – Bulgarian company to build the pipe in Bulgaria. According to Bulgarian experts, Gazprom used Romania to pressure Bulgarians into a decision to comply to its promises for South Stream.

Gazprom President Miller declared that Romania could benefit by South Stream still. He declared that South Stream might even be operable starting 2015 as initially discussed. The construction works will start on 2013 and Miller declared that Gazprom has all financial resources necessary to comply it.