Bulgaria signs 1.1 billion-euro deal to build TurkStream extension

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Bulgaria’s national gas transmission company Bulgartransgaz and Saudi-led engineering consortium Arkad have signed a construction contract worth 1.1 billion euros to extend Russia’s TurkStream pipeline which will deliver Russian gas to Europe bypassing Ukraine, the Associated Press has reported.

According to the contract, Arkad will be tasked with building TurkStream’s 474-kilometre element in Bulgaria, running from the country’s southern border with Turkey to the Bulgarian-Serbian border.

“The extension of the gas network infrastructure will improve the energy security of the countries of Southeast Europe,” SEE News wrote, quoting a statement from Bulgartransgaz.

The pipeline is expected to deliver an annual capacity of 15 billion cubic metres of Russian natural gas to Serbia, Hungary and Austria.