Bulgarian Prime Minister Boyko Borisov (R) listens to Russian gas giant Gazprom chief, Alexei Miller during their joint press conference after signing an agreement for the South Stream pipeline project in Sofia on November 15, 2012. Gazprom signed a deal today in Sofia allowing a major new pipeline, the 3,600-kilometre (2,200-mile) South Stream pipeline, to pass through Bulgaria on its way to Western Europe from late 2015 onwards, stealing a march on rival EU-backed projects aimed at reducing the bloc's energy dependence on Moscow. AFP PHOTO / NIKOLAY DOYCHINOV
It’s a 10-year gas deal with Russia’s Gazprom, with a 20 percent discount, gas price pegged to oil, and take-or-pay obligations attached. For Ukrainians, this reads like déjà vu from 2009, when the nation’s then Prime Minister Yulia Tymoshenko signed a deal to import Russian gas under these conditions.