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Greece to go ahead with extension of Turkish Stream jointly with Russia — minister

September 23, 2015, 17:22 UTC+3 ATHENS
Greece will also go ahead with the implementation of the Trans-Adriatic gas pipeline project
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© ITAR-TASS/Ruslan Shamukov

ATHENS, September 23. /TASS/. Greece will carry on implementation of its plans to construct a natural gas pipeline to extend the Turkish Stream pipeline on its territory jointly with Russia, Greek Minister of Productive Reconstruction, Environment and Energy Panos Skourletis said on Wednesday.

"Solving major issues related to energy policy is in store for us," he said. "In the previous government [of Alexis Tsipras] we took the first steps to implement the plans on construction of both the so-called Trans-Adriatic gas pipeline and the Russian gas pipeline on our territory. We will carry on work in this direction," the minister said.

Greece’s state-owned company Energy Investments Public Enterprise S.A. (EIPE S.A.) and Russian VEB Capital are expected to become partners on construction of the Greek section of the Turkish Stream, which is estimated at €2 bln.

On June 19, the sides signed an intergovernmental memorandum on cooperation in construction of the Greek section of the Turkish Stream. The construction due to begin in 2016 is expected to be finalized by end-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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