Bulgaria ready to accept reduced share in oil pipeline to Greece

SOFIA (AFP) – Bulgaria is ready to cut its share to 24 percent from 33 percent in a decade-old Burgas-Alexandroupolis pipeline project to channel oil from the Caspian Sea to the Aegean, Economy and Energy Minister Rumen Ovcharov said yesterday. This was to facilitate implementation of the project, he said. «A Council of Ministers decision provides for a participation share of between not less than 24 percent, which is equal to that of Greece, and 33 percent,» Ovcharov told bTV private television in an interview. During the 14-year-long negotiations between Russia, Greece and Bulgaria over the pipeline, Bulgaria has always insisted that the three countries hold equal shares in the project of 33 percent each.