Greece’s future as an energy hub

[Ellinas]

The construction of a natural gas pipeline that will run beneath the Black Sea linking Russia with Bulgaria, Greece and Italy has far-reaching implications. The construction of the new oil pipeline connecting the Bulgarian Black Sea port of Bourgas with the Greek port of Alexandroupolis as well as of the Turkey-Greece-Italy pipeline has turned Greece into a key player in energy issues. The new pipeline will make Greece an energy hub in the southern European region.

The main advantage of the new pipeline is that it will allow Greece to diversify its natural gas sources. The end of Greece’s dependence on Turkey has obvious political ramifications. This is after all one of the reasons behind Moscow’s willingness to advance the specific pipeline project. When it comes to supplying southern Europe, the Russians would not like to put all their eggs into that one Turkish basket.

Η ΚΑΘΗΜΕΡΙΝΗ

[Ellinas]

Pipeline to raise energy profile

Greece's decision to take part in the construction of a natural gas pipeline to run under the Black Sea, linking Russia with Europe, will further upgrade the country's role as an energy hub, Development Minister Dimitris Sioufas said yesterday.

Prime Minister Costas Karamanlis said in Consantinople late on Monday that Greece will be part of the South Stream pipeline after he met with Russian President Vladimir Putin.

Italian energy company Eni SpA and Russia's state-controlled OAO Gazprom have signed a memorandum of understanding on the possibility of supplying Russian gas to European Union countries through the South Stream pipeline.

Under the plan announced on Saturday, more than 900 kilometers of pipeline could be laid under the sea and across Bulgaria before splitting off into two directions, north through Hungary to reach Austria and south through Greece and on to Otranto, a port near the southeastern tip of Italy.

Questioned on concerns by Turkish officials that they are being left out of the region's energy development, Sioufas said that Greece continues to work closely with the neighboring country on this front.

«Besides, you must not forget that we have a close energy cooperation with Turkey that will not be affected by the new plan for the southern stretch announced on Saturday in Rome,» the minister added.

[Megale]

Originally Posted by Ellinas
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Pipeline to raise energy profile

Greece's decision to take part in the construction of a natural gas pipeline to run under the Black Sea, linking Russia with Europe, will further upgrade the country's role as an energy hub, Development Minister Dimitris Sioufas said yesterday.

Prime Minister Costas Karamanlis said in Consantinople late on Monday that Greece will be part of the South Stream pipeline after he met with Russian President Vladimir Putin.

Italian energy company Eni SpA and Russia's state-controlled OAO Gazprom have signed a memorandum of understanding on the possibility of supplying Russian gas to European Union countries through the South Stream pipeline.

Under the plan announced on Saturday, more than 900 kilometers of pipeline could be laid under the sea and across Bulgaria before splitting off into two directions, north through Hungary to reach Austria and south through Greece and on to Otranto, a port near the southeastern tip of Italy.

Questioned on concerns by Turkish officials that they are being left out of the region's energy development, Sioufas said that Greece continues to work closely with the neighboring country on this front.

«Besides, you must not forget that we have a close energy cooperation with Turkey that will not be affected by the new plan for the southern stretch announced on Saturday in Rome,» the minister added.

This is a good sign for Greece. They are becoming more and more self-sufficient and hopefully less reliant on the EU. Typical response by Turkey, they always want a part of the action, like those countries owe Turkey anything in the first place.