Greece and Russia agree pipeline plans

Greece and Russia signed a memorandum of understanding in mid-June, reports Reuters, aimed at extending the planned Turkish Stream gas pipeline to Europe through Greek territory, with financing from Russia. Greek Energy Minister Panagiotis Lafazanis said at the signing ceremony in St Petersburg that Greece needed support and not pressure during its debt crisis and that cooperation with Russia was not aimed against other countries or Europe.

Under Gazprom’s plans, the Turkish Stream pipeline will split into four lines with a total capacity of 63bn cm/y. The first line is to supply Turkey. Gazprom plans to build a pipeline to Turkey to provide gas to Europe without going through Ukraine, although it has no firm agreement with Ankara and faces severe opposition from the European Union.