A plan to build the Burgas-Alexandroupolis oil pipeline, revived by Bulgarian President Rumen Radev has been backed by Russian oil company Lukoil following discussions at the partnership council between the Lukoil oil refinery and the local authorities in Burgas.
Sofia abandoned the Burgas-Alexandroupolis oil pipeline in 2011, but the international project company Trans Balkan Pipeline B.V. continues to exist.
“The realisation of the oil project by the state or by a public-private partnership is a decision that would contribute to improving logistics by avoiding the problematic straits (in Turkey),” commented the company, quoted by the state news agency BTA.
Lukoil claims the project could help replace the Russian oil it currently imports by tanker through the port of Rosenets. Bulgaria has the right to use Russian oil until the end of 2024.
The Burgas-Alexandroupolis project was part of the so-called “grand slam” of Russian energy projects in Bulgaria, which also included the new Belene nuclear power plant, and the South Stream gas pipeline.
Bulgaria agreed to implement these projects 16 years ago during the presidency of Georgi Parvanov. The gas pipeline was built, but as a continuation of the “Turkish Stream”.
The Belene NPP will probably never be built, but the reactors have been delivered and there have long been talks of using them for a new nuclear unit at the Kozloduy NPP.
Bulgaria wants to import oil through the potential new pipeline from the Mediterranean Sea. The previous idea was for Russian oil to reach the Greek port through Bulgaria.
At the end of November this year, Radev announced during the “Black Sea: Near East” conference that the resumption of the Burgas-Alexandroupolis project should be considered.
Lukoil Neftohim Burgas announced that this project could grow into a “Black Sea” oil hub, which will increase Bulgaria’s role in the region’s energy security
The caretaker government is currently lobbying the European Commission so that Lukoil can continue exporting Russian-produced petroleum products from Bulgaria.
Until the end of 2024, Bulgaria will remain exempt from the EU’s embargo that currently bans Russian crude oil imports by sea.
Source : Euractiv
