The Russian President Vladimir Putin’s visit to Bulgaria schedule included the signing ceremony of the Memorandum on future Russian-Bulgarian relations in natural gas supply and transit from Russia to and through Bulgaria. The Memorandum was signed by Alexey Miller, Chairman, Management Committee, Gazprom, and Milko Kovachev, Minister of Energy and Energy Resources, Republic of Bulgaria.

The parties’ agreement to extend the existing gas supply and transmission contract is emphasized in the document. The contract to supply gas and transport it via Bulgaria to other markets covers 10 to 15 years’ time span starting from 2010. The parties are going to improve “the blue stream” transportation fees payment conditions and mechanisms.

The parties also agreed to prepare proposals regarding the existing facilities expansion, and on new gas transmission facilities construction in Bulgaria for gas supplies to Greece and Serbia, among other destinations. This plan conditions are to be agreed upon by the end of 2003.

Information Directorate, OAO Gazprom