Turkish Stream Pipeline May Boost Energy Ties With Greece – Greek Minister

Last year, Russian President Vladimir Putin scrapped construction of the South Stream pipeline. This cancellation made way for a new project, dubbed the Turkish Stream pipeline, expected to make landfall in Turkey and then cross into Greece at its eastern border.

MOSCOW (Sputnik), Anna Liatsou — Greece regards Moscow’s proposal to build the Turkish Stream pipeline, to carry Russian natural gas across its territory to Central Europe, to be a lucrative project that may bring the countries closer together, Greek Energy Minister Panagiotis Lafazanis told Sputnik.

Last year, Russian President Vladimir Putin scrapped construction of the South Stream pipeline, intended to run across the Black Sea to Bulgaria and then to Central and Southern Europe. This cancellation made way for a new project, dubbed the Turkish Stream pipeline, expected to make landfall in Turkey and then cross into Greece at its eastern border.

“We are studying these proposals, they seem interesting and, on the whole, could set the stage for more substantial cooperation with the Russian side,” Lafazanis told Sputnik after a meeting with his Russian counterpart Alexander Novak and Russian energy giant Gazprom’s CEO Alexei Miller.

Greece imports around 65 percent of its natural gas from Russia.

Gazprom has been in charge of both pipeline projects. The company also plans to set up a major gas hub on the Turkish-Greek border to store gas for Europe.

The South Stream project came to an abrupt end after Bulgaria froze construction last summer citing European Union regulations.