Official website of the President of Russia

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President Vladimir Putin: Mr President,

I am pleased that we have discussed not only the implementation of the projects we have already reached agreement on, but also examined major new joint investment projects, including the one discussed in Rome yesterday, which we have given the name Southern Stream. This is the project to build a new gas pipeline system from Russia to Bulgaria and onwards to the other European Union countries.

This project would undoubtedly raise Bulgaria’s role and importance as a major gas transit and distribution centre in Europe and would certainly help to raise energy stability and diversify energy supplies for European countries. This would have a positive impact on the international energy market.

Georgi Prvanov: Mr President, Ladies and Gentlemen,

I am happy with our talks, which have covered a wide range of economic cooperation issues.

We discussed in detail the possibilities offered by the new Southern Stream project. This represents an important step not only in energy diversification but also in ensuring the stability of the region and of the European Union in general.

Bulgaria is interested in this project and we are ready to take part. The relevant agencies and institutions will soon discuss the project and make the right decision. We can say with confidence that this project opens up big opportunities for Bulgaria as a whole and for developing our economy. As this meeting is taking place on the sidelines of the Balkan energy summit, I would like to note too that the project would benefit all of the countries present at this summit.

Vladimir Putin: I would like to add that our Italian colleagues have already informed the European Commission leadership about this project. We are thankful to the European Commission for its positive reaction to our plans.