Blacklisted Billionaire Timchenko's Stroitransgaz to Win $4.8Bln South Stream Pipeline Deal | The Moscow Times:
"A consortium led by Russia's Stroitransgaz, owned by sanctions-hit businessman Gennady Timchenko, is set to win a 3.5 billion euro ($4.82 billion) deal to build a section of the South Stream natural gas pipeline across Bulgaria, industry sources said Friday.
Expected to start deliveries in late 2015, South Stream will carry Russian gas across the Black Sea and bypass Ukraine with which there have been gas rows in the past that have disrupted supply to the European Union.
Timchenko owns 63 percent in Stroitransgaz Group via his Volga Group. On Thursday he was included in a list of Russian officials and businessmen targeted by U.S. sanctions over Ukraine.
"The Stroitransgaz-led consortium has been picked to build the Bulgarian part of the pipeline," a source familiar with the deal in Bulgaria said.
Some 11 companies bid for the work, Bulgarian Energy Holding, or BEH, has said, without naming the bidders."
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