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Greece to confirm construction of natural gas pipeline jointly with Russia

Greece to confirm construction of natural gas pipeline jointly with Russia thumbnail

Greece supports the plan of building a natural gas pipeline jointly with Russia to be an extension of the Turkish Stream gas pipeline, new Minister of Productive Reconstruction, Environment and Energy of Greece Panos Skourletis said on Monday at the ceremony of responsibilities’ handover from the former minister Panagiotis Lafazanis.

Skourletis said the plan of building a new Greek-Russian gas pipeline in the territory of Greece is supported. It opens new opportunities to be used, the minister said.

This pipeline is more beneficial for Greece than the planned Trans-Adriatic Pipeline (TAP), Lafazanis said earlier. “The Russian project will provide more benefits because Greece will own a 50% stake in the pipeline and because tariffs will be higher,” the ex-minister added.

Greek state-owned Energy Investments Public Enterprise S.A. (EIPE S.A.) and Russia’s VEB Capital will be partners in the project. Investments into construction will amount to $2 bln. The project will be 100% financed by the Russian side and will make possible to create 20,000 jobs in Greece.

The parties signed the intergovernmental memorandum on cooperation within the framework of building the Turkish Stream gas pipeline extension in Greece at the St. Petersburg International Economic Forum on June 19. Construction of the segment is to start in 2016 and will end at the turn of 2019.

Infographics Russia's gas pipelines to Europe by 2018 Russia’s gas pipelines to Europe by 2018

Russia’s gas giant Gazprom intends to completely abandon gas supplies to Europe through Ukraine after 2018 with the help of a new pipeline to Turkey. Infographics by TASS

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19 Comments on "Greece to confirm construction of natural gas pipeline jointly with Russia"

  1. rockman on Wed, 22nd Jul 2015 7:32 am 

    The interesting aspect will be who Greece gets the capex from. Presumably a loan. Russia? China? The new Asian bank that trying to cut into the IMF?

  2. Luís on Wed, 22nd Jul 2015 8:17 am 

    Greece is not bringing a single cent on the table. It is all to be paid by Gazprom.

  3. paulo1 on Wed, 22nd Jul 2015 8:26 am 

    Put a meter at the border and charge a bit extra for those European Friends. That would pay off the debt!!!

    Payback could be a real bitch.

  4. joe on Wed, 22nd Jul 2015 8:27 am 

    Turkey is a bigger collapse risk than Ukraine. Soon they will be fighting the Kurds and Salafis. So called ‘pro-western’ Ukrainians are setting themselves up to be treated worse than Greece. They bet their house on the EU being ‘nicer’, turns out they will steal from you too. The difference is only the gender and sometimes the language of the thief.

  5. Makati1 on Wed, 22nd Jul 2015 10:10 am 

    “…The project will be 100% financed by the Russian side…” More to come…

  6. JuanP on Wed, 22nd Jul 2015 10:14 am 

    It is very clear to me that Russia intends to reduce or eliminate, if necessary, gas transit through Ukraine when the current transit contracts expire. It is also clear that the USA will do everything it can to deny Russia alternative pipelines. The southern Europeans are shooting themselves in the foot by siding with the Americans on this.

    Germany has NordStream and is safe. Turkey is likely to build the first part of TurkStream with a capacity of 15 bcm to replace the gas it gets through Ukraine and may be safe, too. The other 45 bcm of the TurkStream that would be built later to supply Southeastern Europe through Turkey are more doubtful.

    The Europeans will regret the choices they are making, particularly the Ukrainians.

  7. dissident on Wed, 22nd Jul 2015 3:37 pm 

    Uncle Sam better keep his ego in his pants. Nordstream II, Turk Stream and the massive amount of pipeline capacity being built to China will make sure that any attempt to foist the blackmailer regime in Kiev on Russia will fail.

  8. Boat on Wed, 22nd Jul 2015 4:33 pm 

    dissident, didn’t the IMF and the US loan ukraine 6 billion of which most of it went to Russia for Nat Gas? I wouldn’t call that ego.

  9. Boat on Wed, 22nd Jul 2015 4:45 pm 

    The goal is more nat gas for Europe from Russia. sanctions were not meant to hurt Russia bad, just inconvenience them a little. The US is doing nothing to stop these pipelines or hold back distribution. It’s all smoke and mirrors.

  10. apneaman on Wed, 22nd Jul 2015 5:18 pm 

    Boat, sounds like you’ve got the Kool-Aid on a permanent IV drip. Oh Yeah!

    Victoria Nuland Threatens Russia

    Seeking War to the End of the World

  11. Boat on Wed, 22nd Jul 2015 6:06 pm 

    Turkey and Greece are Nato Countries. Nobody is stopping them from doing the pipelines to Germany. Does that sound like war mongering? Iran and Russia, the world just wants them to be nice well mannered capitalists and keep the energy for the world moving. Don’t march armies into countries they no longer control. Anyways all these decisions are in the hands of Europe as a whole and countries with individual autonomy. Germany, Brits, Spain, Italy all have bigger says than the US on what happens in the Ukraine.

  12. apneaman on Wed, 22nd Jul 2015 6:55 pm 

    If you’re not a troll/disruptor then you are the stupidest most gullible moron out there. Either way…….FUCK OFF

  13. Makati1 on Wed, 22nd Jul 2015 9:52 pm 

    Boat, the US wants total control over Russia and Iran, not just sharing. The Western oligarchs are drooling over all of that oil they are not making a profit from. They want it all and they want it NOW! That is the new doctrine running the empire. No country can be allowed to be free of the empire’s domination. None.

    If you don’t see through the USMSM Iron Curtain, you are not seeing the real world.

  14. rockman on Thu, 23rd Jul 2015 6:54 am 

    paulo – About that meter: I’ve mentioned it before. I’ve sold NG for 40 years and have not had a single concern about any of it being lost, stolen or not paid for as it moved along the transportation/distribution system. When the NG moves off my lease it goes thru a meter that both the buyer and I independently certify. That’s what I get paid from. After that the NG belongs to someone else so if there’s any problem it’s their problem…not mine.

    So why doesn’t Russia sell their NG thru a certified meter to the EU customers, including the Ukraine, at their border? If the Ukraine steals some of the NG that the EU has paid for that’s the EU’s problem…not Russia’s. The Russian obviously understand meter sales so it’s not being done out of ignorance. It’s almost as if they want to create this conflict with the Ukraine.

    I’ll let others speculate on the Russian motive for creating this bone of contention.

  15. Davy on Thu, 23rd Jul 2015 6:55 am 

    “USMSM Iron Curtain” sounds like something Baghdad Bob would say.

  16. JuanP on Thu, 23rd Jul 2015 9:43 am 

    Nine people who saw what is happening in Greece a long time ago. I, myself, never thought the Euro could last as it was set up.

  17. Northwest Resident on Thu, 23rd Jul 2015 10:44 am 

    Davy — I’m sure all of us here have contemplated using that term at various times in our conversations and online posts, but have decided against it. It implies that the “MSM” is keeping some people out while at the same time keeping some people in, with a physical barrier separating the two. Although I’m sure most of us won’t argue the fact that MSM “keeps” people stupid, I just don’t see how MSM prevents people on “the other side” — the smart ones — from climbing over that “iron curtain” to get to the stupid side. So as a metaphor or an analogy, it totally fails, which is why I’m sure all of us who have been tempted to use that catchy phrase in our daily conversations and online communications have decided against it. In fact, I’ll bet Baghdad Bob himself was tempted to use the phrase at least once, but decided against it for the above-listed reasons.

  18. Baptised on Thu, 23rd Jul 2015 11:47 am 

    Pro Russia or anti Russia the way I see it is, Russia is signing memorandums/agreements/contracts almost daily while the USA point fingers at each other and do nothing constructive.

  19. Makati1 on Thu, 23rd Jul 2015 10:43 pm 

    Baptised, most Americans are Russo-phobic and will never see a positive if Russia is involved. That is part of their indoctrination. The USMSM Iron Curtain has been highly successful in planting propaganda in the sheeple’s minds. What is left of their minds anyway.

    So good is that indoctrination, that they don’t even see it when they give it thought, which is rarely, if ever. Have they ever given thought to the common: “Now back to your regularly scheduled program(ming)” they hear all the time. LMAO

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