South Stream to be renewed only with firm guarantees - Putin

Russia is aware of Bulgaria's readiness to renew the South Stream gas pipeline project, but EU's rock-solid guarantees are needed for that, says Vladimir Putin.

The Russian leader made the comments on Tuesday as he met with Turkish counterpart Recep Tayyip Erdogan, with whom he agreed to gradually remove Moscow's restrictions put in place after Turkey downed a Russian bomber last November.

Putin and Erdogan also said the two countries would proceed with the Turkish Stream gas pipeline, an alternative to South Stream.

• Earlier, Bloomberg reported that Bulgarian Prime Minister Boyko Borissov said "Bulgaria and Russia agreed to resurrect the canceled South Stream natural gas pipeline across the Black Sea, and the Belene nuclear power plant."

"Bulgaria and Russia agreed to set up working groups that will seek ways to resume work on the two energy projects," Borissov said on Saturday, after a phone conversation with Putin on August 5.

The U.S. website said that "Borissov has discussed the projects with the European Commission" and said "they will be done in compliance with European Union rules."

Russia's Gazprom in 2014 canceled the building of the pipeline after the EU forced Bulgaria to withdraw from the project, since the pipeline would, it was said, violate EU's competition rules.
 Source: Tanjug, b92
10/8/16
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Related:

• Russia ready to construct South Stream gas pipeline in case of guaranteed demand in Europe

• Neither Russia nor EU have plans to revive South Stream — EU ambassador

• Russia ready to implement gas pipeline project similar to South Stream — Kremlin