Gazprom expects to take a final investment decision on the Bulgarian section of its South Stream gas pipeline by November, the company said in a statement Monday, adding that it will announce the results of tender contracts for the planning stage of the project on March 23.
Gazprom issued the statement following talks at its Moscow headquarters between CEO Alexei Miller and Dimitar Gogov, the executive director of national gas grid operator Bulgargaz EAD.
The March 23 deadline for completion of the tender process to find contractors to carry out environmental assessments and document preparation for the Bulgarian section of the route is in line with the project's schedule.
In late February, the company said that South Stream Bulgaria -- a 50:50 joint venture between Gazprom and state-owned Bulgarian Energy Holding -- would announce contractors for the work sometime in March.
Miller and Gogov also discussed cooperation, prospects for developing the Bulgarian gas market with Russian involvement and conditions for gas deliveries to Bulgaria this year, the statement said.
In 2011, Gazprom exported 2.81 billion cubic meters of gas to Bulgaria, which represented a 6% increase on 2010 volumes.
Gazprom plans to construct the South Stream pipeline to transport Russian gas via the Black Sea to Bulgaria and other countries in southern Europe including Greece, Italy, Serbia, Hungary, Austria, and Slovenia.
Construction of the route is set to begin in December, with the first commercial deliveries scheduled for late 2015.
Gazprom has already established national joint ventures with companies from Austria, Croatia, Slovenia, Greece, Hungary and Serbia to manage the onshore section of the South Stream pipeline.
In early February, Gazprom said Montenegro is also considering linking up to South Stream.
