OREANDA-NEWS. March 23, 2012. On Tuesday, the Supervisory Board of the project of Burgas-Aleksandrupolis oil pipeline building approved the plan of the project cost minimization, as M.Barkov, the Vice-President of TRANSNEFT JSC informed.

"The main achievement is understanding of all the shareholders, that the cost minimization is vital irrespectively of any possible future of the project. The Supervisory Board approved the cost minimization plan, the financing of realization of this plan was confirmed", - he said. Moreover, M.Barkov reported that the realization of the cost minimization plan has begun from today: personnel issues, questions on rental costs, etc. are being solved now. "Both Bulgaria and Greece hold very constructive positions, nevertheless the last negotiations were very complicated", - he said.

According to M.Barkov, Bulgaria had notified its partners about its quitting the project, and set a term of one year for itself for realization of this decision. The Vice-President of TRANSNEFT JSC also added that this is a political question and it will be discussed and solved at Government level.