Eliott Investment Management is considering investing in the expansion in Bulgaria of the TurkStream gas pipeline. The investment package could also include access to data center systems, data cables and other infrastructure assets, many sources familiar with the Wall Street Journal told the Wall Street Journal.
Elliott has recently signed an information security agreement with the Bulgarian national gas system operator Bulgartransgaz. Elliott's representative met with senior Bulgarian government officials in the capital capital capital capital capital capital last month. In addition to the plan to invest in the infrastructure system, Elliott is also considering the company's ability to restructure its debt.
Currently, the negotiations are only in the initial stage and there is no guarantee that they will reach an official signing. The scale of the investment has not been disclosed.
TurkStream is currently the last pipeline carrying Russian gas to Europe, after other major pipelines were disrupted by the conflict in Ukraine. The TurkStream pipeline crosses the Black Sea to Turkey, then connects to Hungary, Slovakia and several other countries.
By 2022, Russia will be the largest oil and gas supplier to Europe. Recently, the Trump administration has focused economic agreements on its approaches to Russia to promote peace in Ukraine. This opens up the possibility of Russia reconnecting the energy network with the West, with support from the US.
In March this year, Russian President Vladimir Putin announced that if Russia and the US reach an energy deal, Europe will have the opportunity to buy cheap Russian gas. The Nord Stream pipeline system connecting Russia and Germany being sabotaged in 2022 is still a major concern for Moscow. Russian Foreign Minister Sergei Lavrov revealed earlier this year that Russia and the US are discussing the possibility of restoring the pipeline.
The agreement in Bulgaria could be a model for similar agreements in Ukraine and Germany. However, it could also make Europe continue to depend on Russian gas," said energy expert Martin Vladimirov from the Center for Democratic Studies in Sofia.
Elliott is one of the most influential investors on Wall Street, managing more than $70 billion in assets. The fund is famous for investing in large companies such as softBank, Honeywell and Starbucks. Billionaire Paul Singer - founder of Elliott - is a major sponsor of the Republican Party. He contributed $7.5 million to campaign committees involved in Donald Trump's re-election campaign.
If successful, the gas pipeline deal in Bulgaria could bring large profits to Elliott. Every year, Bulgaria receives about $ 350 million from Russia to transport gas through this pipeline system. The volume of Russian gas transported via TurkStream has increased in recent years, as other routes have been suspended.
