TBP Submits Revised Eco Study on Burgas-Alexandroupolis Oil Pipeline

In August, TBP asked the ministry to extend the revision deadline until the end of September after in June the ministry rejected the study for the third time on the grounds that it was incomplete and gave TBP two months to revise it.

The revised and supplemented Environmental and Social Impact Assessment report was submitted to the ministry on September 30, 2011, within the term set by the ministry, TBP said in statement on Monday.

"With the aim of obtaining a pre-check of the report, the company together with its environmental and technical consultants had sent a draft of the revised report to the competent Bulgarian public environmental authorities for a preliminary review prior to submission," the statement said.

In accordance with the existing legislation in Bulgaria the evaluation results are expected within one month following submission, the statement added.

The 258-kilometre pipeline is projected to link the Bulgarian Black Sea port of Burgas with the Greek Aegean port of Alexandroupolis. It will be able to transport 35 million tonnes of crude a year upon completion and its capacity can be raised to 50 million tonnes at a later stage.

Russia, through its oil producer Rosneft, oil pipeline monopoly Transneft and Gazprom Neft, the oil unit of gas export monopoly Gazprom, holds a 51% stake in TBP. The remainder is split evenly between Greece and Bulgaria.