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Bulgaria Supports EU Nabucco Pipeline, Says No to Russia-backed South Stream Pipeline

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Industry Segment: Pipelines | Word Count: 838 Words

GALWAY, IRELAND--June 17, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--The nebulous and complex politics surrounding energy supplies took a dramatic twist with Bulgaria announcing support for the European Union (EU)-backed Nabucco pipeline. The proposed pipeline will circumvent Russia and carry gas supplies to countries in Europe from the Caspian Sea. Marin Raykov, Bulgaria's Deputy Foreign Minister, said that the country was more inclined toward the Nabucco pipeline in comparison to the Russia-backed South Stream pipeline.

Other companies featured: OAO Gazprom (OTC:OGZPY), Eni SpA (NYSE:E), Saipem SpA (MI:SPM)

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