Agreement between the Government of the Russian Federation, the Government of the Republic of Bulgaria and the Government of the Hellenic Republic Relating to the Cooperation in the Construction and the Operation of the "Burgas-Alexandroupolis" Oil Pipeline (Athens, March 15, 2007)

The Government of the Russian Federation, the Government of the Republic of Bulgaria and the Government of the Hellenic Republic (hereinafter referred to as the "Parties"),

noting the key importance of the energy sector for the successful development of their countries' economies, desiring to develop their cooperation in this sector on the basis of equality of rights and mutual benefit, and aiming at promoting the integration processes and good neighborly relations between countries,

striving to create a reliable and efficient route for oil transportation designed to enhance the energy security of the European countries and to reduce environmental risks inherent to the increasing pressure placed on traditional routes of transportation of hydrocarbons and other energy resources in the region,

guided by the Declaration on the Cooperation in the energy sector adopted by the President of the Russian Federation, the President of the Republic of Bulgaria and the Prime Minister of the Hellenic Republic at their meeting held on September 4, 2006 in Athens,

pursuing the provisions of the Memorandum on Cooperation in Implementing the "Burgas-Alexandroupolis" Oil Pipeline Project, signed on April 12, 2005 in Sofia between the Government of the Russian Federation, the Government of the Republic of Bulgaria and the Government of the Hellenic Republic,

HAVE AGREED as follows: