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Bulgaria and Russia have signed a roadmap agreement called South Stream. It's aimed at speeding up work on the gas pipeline that should be operational by 2015.
The two countries agreed on the details of a planned undersea gas pipeline project that will transport Russian natural gas under the Black Sea to Bulgaria and other European countries. Bulgarian Energy Minister Traicho Traikov and his Russian counterpart Sergey Shmatko agreed to build the Bulgarian stretch of the 900-kilometer pipeline. This stretch will carry up to 63 billion cubic meters of gas a year. Bulgaria will hold a 50 percent stake in the pipeline on its territory.
Traicho Traikov, Minister Bulgarian Economy, Energy and Tourism, said, "We agreed that by August 10th, Gazprom Export will present to the Bulgarian state company Bulgargaz a draft of the main clauses of the contract for the direct supply of natural gas."