Novinite: Bulgarian PM: South Stream Has Better Prospects than Nabucco

Bulgarian Prime Minister Boyko Borisov has defended his country's agreement with Russia to build the South Stream gas pipeline, arguing that it will benefit Europe.

In an interview for the Financial Times, Borisov has stated that South Stream has better prospects than its rival EU-backed project, Nabucco.

Last week, Bulgaria's government signed with Russian state-owned energy giant Gazprom the final investment decision for the construction of the South Stream gas transit pipeline.

The Bulgarian PM has reminded that no state money would go into the Bulgarian sector of the pipeline to bring Russian gas under the Black Sea and through the Balkans, which would be project-financed and receive no state guarantee from Sofia.  

He has pointed out that the South Stream project will create jobs.  MORE