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New Greek Gov't to Back Turkish Stream Project
Energy

New Greek Gov't to Back Turkish Stream Project

The new Greek coalition government is ready to continue its cooperation with Russia over the construction of the Turkish Stream gas pipeline, according to a member of the Independent Greeks Party, Terence Quick.
"Yes, we are ready; now everything depends on Russia," the official told Sputnik on Monday.
Quick added that with the strategy to strengthen its policy decisions, the Syriza-led government will support long-term cooperation with Moscow.
"This time we will have a stable government that will stay in power for four years, so that we can work together with Russia in the investment sector. This time we have to do it."
On Sunday, the left-wing Syriza won a general snap election that was called after the party lost its majority in August.
Greece will maintain relations with various countries, including Russia, according to Quick. Athens has repeatedly complained of EU pressure and attempts to stop its cooperation with Russia on the Turkish Stream project.
During the St. Petersburg Forum in June, Moscow and Athens signed a $2.26 billion deal to create a joint enterprise for the construction of the Turkish Stream pipeline across Greek territory. Since then, the sides have been working out the details on the Greek extension of the Turkish Stream or the so-called South European pipeline.
The construction of the pipeline will begin in 2016 and is expected to be completed by 2019.
The 1,100-km pipeline will have four threads and an annual capacity of up to 63 billion cubic meters of gas.
About 16 bcm will be supplied to Turkey while the remaining 47 bcm will go to a hub on the Greek-Turkish border to be transported to Europe.
It replaces the South Stream project, which Russia suspended in December after the EU blocked its implementation.
However, it is still unclear how Greece, an EU member, will participate in the project.

 

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