South Stream: Bulgarian governmental crisis is a threat to the project

Withdrawal of Bulgarian government that is loyal to Moscow can be a serious problem for Gazprom and project of the South Stream gas pipeline. The country will be ruled by a technical government until October; it doesn’t have sufficient authority for major decisions, and then pro-European opposition can come to power. As a result, Gazprom risks not to have time to construct South Stream by the end of 2015.

Yesterday, Bulgarian Parliament sacked the Government of Plamen Oresharski, formed by a coalition led by the Bulgarian Socialist Party (BSP), with 180 votes against 8 ones and with 8 abstentions. Reasons were the banking crisis in Bulgaria and May elections to the European Parliament, lost by BSP. Head of the largest opposition party, GERB, ex-Prime Minister Boyko Borisov refused to form a new cabinet. The parliament will be dissolved on August 6, new elections will be held in October, and before that Bulgaria must be lead by the interim government.

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