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The President of Russia declared that the countries participating in the project meet all necessary environmental standards. Vladimir Putin does not rule out the possibility of modifying the pipeline’s route. He emphasised that Russia possesses advanced technologies that are able to meet environmental standards in pipeline construction.

Mr Putin drew attention to the obvious economic benefits for the countries participating in the project. Greece and Bulgaria will be able to significantly increase their energy security and improve the stability of their economies. In addition, these countries will benefit from the opportunity to earn transit fees.

Prime Minister Konstantinos Karamanlis said that the construction of the Burgas – Alexandroupolis oil pipeline will give Greece and Bulgaria the opportunity to appear on the world energy map. The Greek Prime Minister pointed out the need for additional efforts to implement the trans-Balkan oil pipeline project in the near future. He emphasised that cooperation between Greece and Russia is taking on a strategic character.

In turn, Bulgarian Prime Minister Sergei Stanishev said that the Burgas – Alexandroupolis oil pipeline has geopolitical significance and plays an important role in strengthening Bulgaria’s energy security.

The transcript of the press conference will be published.