The company logo of Gazprom, Russia's largest gas producer, installed on the roof of its office building in Moscow. REUTERS/Maxim Shemetov
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Bulgaria has picked a Saudi company to build a 474-kilometer natural gas pipeline, part of a grid upgrade designed to help transfer Russian gas from Turkey to central Europe.Gazprom Export and Switzerland's MET Group have booked capacity through the new route for 20 years, according to Bulgartransgaz CEO Vladimir Malinov.The builder will receive 250 million lev ($144 million) in advance and will then get payments from transit fees, estimated at an annual average of 340 million levs over the next 20 years. The upgrade, estimated at a total of 2.8 billion levs without VAT, also includes two compressor stations and an 11-kilometer link to the Turkish border.
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