Terminal “Rosenets” of LUKOIL passed under the state control of Bulgaria – Kommersant
[ad_1]
Minister of Transport and Communications of Bulgaria Georgi Gvozdeykov said that the department had completed the procedure for transferring the Rosenets terminal to state control. He stressed that the authorities do not plan to pay compensation to Lukoil because of the termination of the concession.
“The state has every opportunity to manage the terminal and will not allow emergency situations. The concession agreement was terminated due to force majeure circumstances related to the restrictions previously imposed on the Russian Federation, so LUKOIL can insist on its rights anywhere, but not in Bulgaria,” Mr. Gvozdeykov said in an interview. BTV. The Ministry of Transport of Bulgaria is convinced that the cancellation of the lease agreement will not affect the cost of fuel in the country.
LUKOIL Neftochim Burgas entered into a concession agreement for the Rosenets port terminal in May 2011. The concession was granted for 35 years. In August 2023, the Bulgarian Parliament decided terminate the concession because of the sanctions imposed against Russia because of the military operation in Ukraine.
In Bulgaria, LUKOIL owns the Burgas Petrochemical Plant, the largest refinery in the Balkans. It accounts for about 9% of Bulgaria’s GDP. In November 2022, the Bulgarian government allowed the company to export to the EU, despite the embargo on Russian oil and oil products.
[ad_2]
Source link
