Transneft's Board of Directors approved the acquisition of a 33.34-percent stake in the Burgas Alexandroupolis consortium, the company's press offices reported according to RBC. Rosneft and Gazprom, which will also enter the consortium, will own 33.33 percent each.
The Burgas Alexandroupolis consortium is being set up to represent the consolidated position of the Russian companies, which are taking part in the international project along with those from Bulgaria and Greece. According to Transneft's President Semyon Vainshtock, the agreement between governments of the countries, participating in the oil pipeline construction, is to be signed before the year-end. Under this agreement, the three Russian companies will receive a 51-percent stake, which will be divided equally between them.