Bulgaria, Russia agree on gas pipeline

Bulgaria and Russia have agreed on the details of a planned undersea gas pipeline project aimed at transporting Russian natural gas under the Black Sea to Bulgaria and other European countries.

Bulgaria and Russia have agreed on the details of a planned undersea gas pipeline project aimed at transporting Russian natural gas under the Black Sea to Bulgaria and other European countries.

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Bulgarian Energy Minister Traicho Traikov and Russian counterpart Sergey Shmatko on Saturday signed a "road map" for the project and joint company to build the Bulgarian stretch of the 900-kilometer (550-mile) pipeline that 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. No other details of the agreement were announced. Bulgaria also has said it wanted to diversify its energy supply by joining the EU-backed Nabucco pipeline project.