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Vladimir Putin heads for Sofia this weekend. [Reuters]
Russian Prime Minister Vladimir Putin will arrive in Sofia on Saturday (November 13th) for talks with his Bulgarian counterpart, Boyko Borisov, on the two countries' joint energy projects and ways for boosting bilateral trade relations. Borisov announced the visit November 2nd, following a telephone conversation with Putin the previous night. He said the two had agreed to meet on a non-work day so they could discuss all important bilateral issues at length.
The Belene nuclear power plant and the South Stream natural gas pipeline projects are expected to dominate the talks.
The two countries signed an agreement on the construction of Belene, on the Danube River, 100km east of the existing Kozloduy plant, during Putin's visit to Sofia in January 2008. A few weeks later, the Russian state company Atomstroyexport was contracted to build the two 1,000MW VVER reactors for an estimated price of nearly 4 billion euros.
The project has stalled since Borisov's centre-right party, Citizens for the European Development of Bulgaria (GERB), came to power 15 months ago, and began raising questions about the economic feasibility of the undertaking and refusing to provide state funding for it. The venture was practically frozen in fall 2009 after the German company RWE pulled out.
Borisov later criticised the country's previous Socialist-led coalition government for failing to mention extra costs associated with consulting services, loan service payments and infrastructure when promoting the project, costs totaling another 2.5 billion euros.
Bulgaria then said it would only implement the project provided a new strategic European investor is found to replace RWE. GERB officials have been hinting recently that another German company may soon join the venture.
"I am committed to finish the construction of Belene, so that by 2020, when the reactors at the Kozloduy plant have to be decommissioned, Bulgaria is not left without a nuclear power plant," Borisov said in an interview with Sofia-based Nova television last week.
He later told his cabinet that he supports the project for pragmatic reasons, because "we have Turkey watching to see what Bulgaria will do about Belene, so that it can figure out what to do with its planned four nuclear reactors."
According to reports Friday, Borisov sent formal letters to Serbian President Boris Tadic and Croatian Prime Minister Jadranka Kosor asking each to respond by November 13th if their countries are interested in acquiring stakes of 1%, 1.5% or 2% in the Belene plant.
The participation of the two Balkan countries would make it "even more pragmatic because it will guarantee the markets for this power plant when it is built", the Sofia News Agency quoted Borisov as saying.
An agreement on establishing a joint company to operate the Bulgarian section of the South Stream pipeline, due to be signed on November 15th, is likely to be inked during Putin's visit.
Borisov is expected to also seek lower prices for Russian gas. Energy experts believe that he will succeed, as Gazprom has been forced to lower its prices this year to maintain its positions on the European market.
Speaking ahead of his talks with Putin, Borisov made clear he also plans to push for an increase in Bulgarian exports to Russia. He said Bulgaria should try to regain the positions it held on the former Soviet market. That would also help offset the huge deficit in trade relations with Russia, on which it relies for 100% of its natural gas, much of its crude oil and nuclear fuel.
"Russia is a natural market for Bulgaria. Why have we forgotten that?" the Sofia News Agency quoted Borisov as saying on November 2nd. "This is pure business and pure economics -- fresh money for our country."
Source: SETimes.com
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