Eastring to Cost Bulgaria €700 Million
- New Europe Investor
- September 11, 2015
The cost to Bulgaria for a pipeline launched by Slovakia as an alternative to South Stream, will be as high as €700 million.
Eastring as it is known, will connect the existing gas infrastructure between Slovakia, Romania and Bulgaria, offering a transportation route that the company say will be more cost effective than current pipelines.
The project is in the early stages and still requires financing. However, with Russia ending hopes of South Stream, many countries such as Bulgaria lost out on the lucrative transit fees of facilitating Russian gas to the rest of Europe. Eastring is considered an option to gain a foothold in this market.
The termination of South Stream which was largely because of pressure from Brussels and angered the countries involved. Russia then signed an alternative deal with Turkey. Eastring is an attempt to show to Russia that the countries such as Bulgaria and Romania still want South Stream, despite the EU’s objections.