Gazprom and Bulgaria are set to sign an...

Russia signed an intergovernmental agreement on the South Stream gas project with the Socialist-led Bulgarian government in January 2008.

In May 2009, Russia"s Gazprom and state-run Bulgarian Energy Holding (BEH) agreed to set up a joint venture on a parity basis to build the Bulgarian section of the South Stream pipeline by mid-2010.

However, the country"s new government, which came to power in the summer of 2009, announced its plans to review the deal and diversify gas suppliers following a dispute between Gazprom and Ukraine in January 2009 over unpaid bills and gas prices that left most European countries without gas deliveries for two weeks in freezing temperatures.

Following the talks, held with Gazprom in late 2009, the new Bulgarian government announced its support for the project, intended to reduce the dependence of European consumers on gas transit countries.

Gazprom said in a statement that during a working visit by Gazprom CEO Alexei Miller

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