A EU Commission official has said Brussels stands ready to get involved in any kind of negotiations over Sofia's gas hub project.

The gas hub project is not only important to Bulgaria or the EU, but to the entire region as well, Klaus-Dieter Borchardt, Director Internal Energy Market at the Commission's Energy directorate, has made clear at a conference in the Black Sea city of Varna.

He has added Bulgaria has until 9 November to submit a feasibility study for the project if it wants to secure EU funding.

Brussels is ready to take part in meetings regardless of whether they involve Russia, Turkey or another interested country and Bulgaria.

Bulgarian Deputy Prime Minister Tomislav Donchev has said the state intends on retaining the ownership of the existing gas infrastructure despite offering a joint venture for the so-called Balkan Gas Hub project.

Some 50% of the new company's shares will be put up for sale. The new entity will be a subsidiary of Bulgartransgaz, the state-owned gas grid operator.

The gas network itself, however, has to remain under full control of the state on "national security" grounds, “24 Chasa” Daily quotes Donchev as saying in the closing remarks of a two-day conference the Bulgarian government set up to pitch the project to investors.

Bulgaria hopes to turn into a gas distribution center for Southeast Europe that will be used as a transit destination for gas from Azerbaijan, Russia or other destinations (including LNG deliveries made to Greece).