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Greece to Renegotiate Terms for Implementation of Burgas-Alexandroupolis Project

According to the Greek Minister of Environment, Energy and Climate Change George Papakonstantinou, Greece is ready to renegotiate the terms for the implementation of the Burgas-Alexandroupolis project in order to see the oil pipeline completed.
Last week, Bulgaria’s government decided to quit the Bulgarian-Greek-Russian project for the construction of the oil pipeline on the grounds that it is financially and economically unsound and cannot follow the terms of the 2007 agreement.
In an interview for online news portal GR Reporter, Papakonstantinou noted that the project was one of importance for Greece and the country was willing to implement it.
“We are very sorry for the concrete current stance of the Bulgarian government and we would like to see the existing problems to be resolved. We are ready to reopen talks with the two other contributing parties so that we can find an opportunity to implement the project in some other format,” the Greek minister said.
Bulgaria’s Finance Minister Simeon Djankov said last week that the country would seek a termination of the trilateral intergovernmental agreement by mutual consent and if the request was rejected, it would pull out of the oil pipeline project in 12 months, as one of the clauses of the contract stipulates.

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