Bulgaria wants to offer state guarantees for Nabucco gas pipeline

Bulgaria would support the development of the Nabucco gas pipeline by issuing state guarantees for loans taken by state-owned Bulgarian Energy Holding (BEH) to fund the project,  Bulgarian Economy and Energy Minister Traicho Traikov said in Parliament on January 20 2011.

Traikov spoke as part of the debate preceding a vote of confidence in the Cabinet of centre-right party GERB.

According to financial projections by executives of the Nabucco project company, the cost of the pipeline will be 2.4 billion euro for each party involved. Bulgaria is represented in the project through BEH, the holding company that manages most state-owned assets in the energy sector.