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Slovak economy ministry signs memorandum with Bulgaria over Eastring pipeline

Xinhua, July 13, 2016 Adjust font size:

Slovak Economy Minister Peter Ziga and Bulgarian Deputy Energy Minister Zhecho Stankov signed a memorandum of understanding concerning the Eastring gas pipeline project here on Wednesday.

"We signed a contract between Eustream and Bulgartransgas concerning the Eastring project at the gas company level in early June. Now we've signed at the inter-governmental level. I believe that the Eastring project will facilitate the setting up of the EU Energy Union via the diversification of gas routes and of gas sources," said Ziga after signing the memorandum.

Ziga said the deal still lacks the signatures of two partner countries -- Hungary and Romania -- through which the pipeline should pass.

"We believe that we'll be able to strike a similar agreement with these countries in the foreseeable future, whether at the corporate or inter-governmental level," added Ziga.

Stankov noted this memorandum would enhance the energy security of the EU.

"We believe that the Eastring project won't only support central and southeastern Europe but will also contribute towards the energy security of the whole of Europe," stressed Stankov.

The Eastring pipeline is a joint project of Slovakia, Romania, Bulgaria and Hungary with a planned capacity hovering at around 20 to 40 billion cubic metres of gas per year. The project should involve gas from the Caspian region, with a corridor prepared for transporting the commodity from southeastern Europe to western Europe. Endit