BRUSSELS--The Nabucco pipeline project, planned to carry natural
gas from the Caspian Sea to Europe, has reached an impasse, a
situation that is pushing Bulgaria to consider developing its own
resources in the Black Sea, the country's prime minister said
Friday.
"We regret that the Nabucco project is stuck," said Boyko
Borisov in a press conference after meeting the European energy
commissioner. "We are paying our duties, but unfortunately
countries and companies are leaving this project one by one," he
said.
Mr. Borissov said that his country is exploring gas reserves in
the Black Sea and may have its own production in years to come.
Bulgaria is key in the European Union's effort to diversify its
gas supplies away from Russia. It would be a crucial transit
country for Nabucco, which would carry Azerbaijani gas from Turkey
to Austria. But it is also being courted by Russia, whose gas giant
OAO Gazprom is building South Stream, a massive gas pipeline that
would carry Russian gas to Europe bypassing Ukraine, and could go
through Bulgaria.
The stakes are high because South Stream would merely change the
route for the gas, without easing dependence on Russia.
Write to Alessandro Torello at
alessandro.torello@dowjones.com
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