The three countries’ leaders discussed the project to build a trans-Balkan oil pipeline from Burgas in Bulgaria to Alexandropoulis in Greece.
The project, initiated by Russia, Greece and Bulgaria in 1994, aims at creating a new uninterrupted export supply route for oil from Russia and the Caspian basin via the Russian port of Novorossiisk, Bulgaria and Greece to Mediterranean markets.
The planned oil pipeline will be around 300 kilometres in length and will have potential capacity of 15 million tons of oil a year once the first stage of the project is complete, 24 million tons a year at the second stage, and 35 million tons a year once the third stage is complete.
Following their tripartite summit meeting, the leaders of Russia, Greece and Bulgaria adopted a Declaration of Cooperation in the Energy Sector.
The leaders of Russia, Greece and Bulgaria also made press statements and answered journalists' questions.