South Stream Pipeline Underway

(GREEK NEWS AGENDA) The agreement for the construction of the South Stream natural gas pipeline will be signed today (May 15) between Gazprom and all other participants in the project, in the Russian resort city of Sochi on the shores of the Black Sea, Greek Development Minister Costis Hatzidakis announced.    Hellenic Gas Transmission System Operator (DESFA), a subsidiary of the Greek Public Gas Corporation (DEPA), will be signing on behalf of Greece. The minister, who will also attend the signing ceremony, noted the particular importance placed on the South Stream agreement and Greece’s broader cooperation with Russia.   Greek News Agenda: Greece-Russia forge ties; Ministry of Foreign Affairs: Energy Affairs

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Greece: Energy Matters

(GREEK NEWS AGENDA)    Development Minister Christos Folias in an interview with Reuters April 16 said, that Greece has agreed to join Russian-backed South Stream gas pipeline which will take Siberian gas to southern Europe through Greece. The pipeline is a joint project by Gazprom and Italian ENI. Serbia, Bulgaria and Hungary recently joint the South Stream project. Countering views seen this project as a competitor to the long-stalled Nabucco pipeline, the Minister said: “I don’t want to see them as athletes competing against each other. I would say they are complementing each other and are offering Europe multiple energy providers, which is good.”