Greece and Russia to Sign Political Deal on TurkStream Extension



oil and gas industryA Greek delegation intends to sign a political Russia-Greece agreement on the support of a pipeline with Russian gas on the territory of Greece during the St. Petersburg International Economic Forum, Greek Energy Minister Panagiotis Lafazanis said.

Greek Prime Minister Alexis Tsipras is due to meet with his Russian counterpart Vladimir Putin in St. Petersburg on Friday.

The proposed TurkStream project is a 1,090-kilometer (677-mile) Russian-Turkish natural gas pipeline running via the Black Sea. Its annual capacity after the anticipated December 2016 date of operability is estimated at 63 billion cubic meters.

Up to 47 billion cubic meters are expected to reach the planned Turkish-Greek gas hub near the Ipsala border checkpoint. European Union member-states are then free to implement their own transport capacity for further gas distribution across their territory.

Athens hopes the project, agreed to in December 2014, will allow it to purchase gas at lower prices and benefit from transit revenues.

(source: Sputnik)


2 COMMENTS

  1. The Greeks should sign the paperwork and get the TurkStream moving to spite the Europeans and Americans

  2. The US gas pipeline to Europe? The Europeans wouldn’t be interesting in the Russia gas if that were the case. Too expensive for the Americans to export LNG to Europe, unless of course the Europeans want to pay more per cubic meter of gas from the Yankees.