Companies / Bulgaria
Russia Negotiates Access Route To The Mediterranean
September 2006 | Project NewsRussia looks set to gain a direct access route to the Mediterranean for its energy exports after President Vladimir Putin and Greek Prime Minister Costas Karamanlis announced that the trans-Balkan oil pipeline is finally to be built. After 14 years of negotiations, the governments of Russia, Bulgaria and Greece have reached an understanding that the project will go ahead, with a more concrete agreement likely before the end of this year. The deal marks a notable success for President Putin in a region where Russia was losing ground in the energy supply race to Central Asian producers such as Kazakhstan
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