Gazprom: Russian-Greek co-operation in the gas sector

Athens hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Alexis Tsipras, Prime Minister of the Republic of Greece. The parties addressed the main areas and prospects for the Russian-Greek co-operation in the gas sector.

The meeting pointed out the need to diversify natural gas supply routes to Europe and the prominent role of a new gas pipeline from Russia to Turkey, which is expected to considerably increase the European energy security.

The parties agreed that a Russian-European consortium could be responsible for building the necessary gas transmission facilities in Greece. Alexey Miller stressed that the EUR 2 billion project would be delivered in full compliance with the European law.

Ultimately, this project will guarantee the transit of up to 47 billion m³ of gas from Gazprom, and that will provide Greece with external funds for other projects.

“The Greek Government supports the project and today we have no doubts that the Russian-European consortium will fully finance it,” said Alexey Miller.

Background

Russian natural gas supplies to Greece started in 1996. According to provisional estimates, Gazprom delivered 1745 billion m³ of gas to Greece in 2014.On 1 December, 2014 Gazprom and Turkish Botas signed the Memorandum of Understanding on constructing an offshore gas pipeline across the Black Sea towards Turkey. Stretching for 1100 km, a four string gas pipeline will have a capacity of 63 billion m³ and will convey up to 47 billion m³ of gas to the Turkish-Greek border.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/project-news/22042015/gazprom-russian-greek-co-operation-in-the-gas-sector/