EU Energy Security and Bulgaria’s Nuclear Option

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On May 8, the Czech Republic hosted a long-awaited Nabucco Summit under the auspices of its European Union (EU) presidency. Notably, the meeting convened just as the Bulgarian government finalized its participation in Russia’s competing South Stream pipeline. A little-noticed element of the negotiations in Moscow, however, was Bulgaria’s effort to link its participation in South Stream with Russian financing for a domestic nuclear power program. Pipeline politics may generate headlines, but Bulgarian officials expect nuclear power to generate most of their future electricity. And Bulgaria’s South Stream agreement demonstrates the perverse incentives which arise when EU energy security and […]

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